AUD/USD Long

17 de mar. de 2019

AU has been respecting a very nice chart pattern as well- this one being a wedge pattern. This is a falling wedge within a downtrend, which is a bullish trend reversal pattern. Essentially, I anticipate another lower move this week before breaking the pattern to the upside and heading back to .7100 resistance and weekly trend-line. This next move lower would take us back down to retest very strong weekly support at .7000- where there are many buyers waiting to enter the market and push this pair higher.