AUD/USD Could also be Setting Stage for Reversal
Australian Greenback, AUD/USD, Aussie Technical Forecast: Bearish
- AUD/USD put in a second consecutive week of indecision on the chart.
- Studying between the traces, with an elongated case of RSI divergence on the Every day and a shorter-term rising wedge on the four-hour, the door might quickly be opening for reversal eventualities within the pair.
- The evaluation on this article closely makes use of worth motion and chart patterns. To study extra about price motion, take a look at our DailyFX Education part, the place it’s taught amongst a bunch of different candlestick patterns and formations.
AUD/USD Two Weeks of Indecision with Potential Reversal Brewing Shorter-Time period
It was a gradual week in AUD/USD as worth motion put in a second consecutive indecision formation on the weekly chart. This comes after a reasonably dramatic begin to September, when the pair jumped as much as a recent two-year-high solely to reverse within the days after. That pullback lasted till worth motion pushed right down to a key help zone, and…