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AUD/USD: more downside?

AUD/USD: more downside?

Information is not investment advice

AUD/USD has been declining since July 19. The most recent development was that it closed below the 50-day MA at 0.6958 and the line connecting June and July lows. This leads us to believe that the Aussie is capable of further downside. The price action may be in line with the harmonic “Shark” pattern - this still leaves the room for the decline to the 0.6910/0.6895 area before the bullish reversal takes place.  

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AUD/JPY has been recovering from the 74.00 area since the start of January, but met resistance in the 76.00 area.

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USD/CHF may rise a bit

USD/CHF formed a “hammer” candlestick on the D1. The most recent price low wasn’t confirmed by the Awesome Oscillator on this timeframe.

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