AUDUSD May 1st Uptrend Structure Broken
AUDUSD has been in an uptrend since March 20th 2020. It has respected the Fib retracements set for it. But has broken structure, which I assume was caused due to the Australian news that was released over the past two days (April 29 and 30th).The pair cross correlates with EURAUD meaning if AUDUSD moves one way EURAUD tends to do the opposite. I state this fact because EURAUD has broken its downtrend structure as well and has begun an uptrend. I am still waiting to see where the pairs will be at the end of the trading day and will also watch where they trade at the beginning of the Sydney (Australian) Session on Sunday to see what their next possible move will be.
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