AUD/USD: 'Double Top' led to decline

AUD/USD: 'Double Top' led to decline

Information is not investment advice

The main trend is still bearish. There was a 'Double Top' pattern, which led to the current decline, so all the Moving Averages have been broken. Also, there's a local 'V-Top' pattern, so the market is likely going to continue declining towards the next support at 0.7060 - 0.7053. If a pullback from these levels happens little later on, bulls will probably try to reach the downtrend line.

4-3-2019-AUD-USD-H4.png

aud

Similar

Popular

GBP/JPY: trading on Brexit

What is the best way to bet on the positive outcome of the Brexit deal? Technically, the GBP has bullish potential versus the JPY.

Choose your payment system