AUD/USD Technical Analysis

(0,9055) The AUSSIE formed a negative outside day failing to extend the correction above 0,9220. A daily closing below 0,9060 will confirm a double top above 0,9220 supporting a retest of the previous low at 0,8848!! The indicators of the daily chart are however still well positive for now however also still showing potential negative reversals and now even a double top formation. The indicators of the s/t charts are instead all well negative showing oversold conditions. However, an hourly closing below 0,9060 will support further direct weakness suggesting a 0,9000 undershooting, move that we want to buy especially in case of a 0,8950 undershooting!!!

Read the full report: AUDUSD 08.20

 

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