The decision of the Australian central bank pressed the aussie down. How to trade it now?
AUD/USD is actively sold
2019-11-11 • Updated
SELL 0.7160; TP1 0.7100; TP2 0.7055; SL 0.7190
AUD/USD has already substantially declined last week forming a big engulfing candlestick on W1.
This week, the Aussie formed what now looks like a “Falling three” bearish continuation pattern. Weekly close around 0.7190 will confirm it. The pair’s currently supported at 0.7190 (50-day MA). A decline below the 61.8% Fibo at 0.7165 will make the Aussie refocus on 0.7100 and 0.7050.
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