AUDUSD is right now in a very strong consolidation which is beneficial for harmonic patterns.
Fundamentals are mixed, but thanks to risk-on attitude on the market right now AUD is gaining and it is possible that it won't last long.
On the chart you can see a Cypher Pattern within an ABCD Pattern, making it a good trading opportunity.
Watch the area between...
Everything is written on the chart.
Checkout my US DOLLAR INDEX idea that is related to this one - strong correlation.
Remember to support your trading with fundamental analysis :)
Fundamentals are beginning to change for USD - possible appreciation and breakout through long-term trend line.
92.5 is the key level to watch if we have a correction, because of possible ABCD, 61,8% Fibo BC and MA 200 - all together working as resistance.
Remember to support your trading with fundamental analysis :)
Everything is written on the chart.
Watch key support area at 1.335-1.365 in upcoming days if no upside breakout occurs.
Remember to support your trading decisions with fundamental analysis :)
