AUD/USD Bearish Trend Resumes as Weekly Support is Compromised

June 27, 2018 11:40

Source: Admiral Markets MT5 with MT5SE Add-on

The AUD/USD has formed a bearish M pattern on a Weekly time frame which suggests the bearish continuation. In intraday timeframe, the price is progressing further down, and 0.7400-10 could reject the price. The huge intraday trend line holds the trend in place. The target is 0.7360. Below the 0.7360 - targets are 0.7347 and 0.7328.W L3 - Weekly Camarilla Pivot (Weekly Interim Support)

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC - Point Of Confluence (The zone where we expect price to react aka entry zone)

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