AUD/USD bulls move in and take back 0.6700, eye 0.6720s – by fx_ross AUDUSD Currencies Commodities
The price completed a deep crab harmonic pattern. Following the sell-off to 0.6620's, the price rallied back to engage buyers and to trip stops at and around the 0.6650s for a run on positions accumulated towards the 0.67 area in what has been a creeping bearish trend established since the open of the week.
The price would now be expected to complete a measured move to the 0.6720s following a correction to the upper quarter of the 0.66 area if not back to 0.6650 following the break of those structures and the trendline resistance that would be now be expected to act as a counter trendline support. Information on these pages contains forward-looking statements that involve risks and uncertainties.
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