AUD/USD Is Our Chart For The Day
1D Chart
Price has formed a head and shoulders pattern, and we are watching for a sustained downside move into the 27% fibonacci extension level. The RSI is trading at bearish levels, and the ADX is only now increasing, showing that this trend is just getting started.
1H Chart
On the 1H price chart We can see that price is in a smooth traffic area, and are looking for a sustained move lower into the next support at 0.69930 prior to any upside.
