Will The Aussie Momentum Continue Upwards?
Actualizado
It wasn't too long ago when AUDUSD bears were dominating the down move as denoted by the pink downtrend line. However the purple uptrend line at around 0.7370 did hold up and resulted in the current rally of the Aussie dollar where a new high was made at 0.7633.
The RT Team reckons that the sentiment for Aussie dollar is neutral at the moment given the superb economic data, where job creation beat estimates by a large margin. Moving forward we expect the up move to continue if 0.7520 is not compromised. We choose to view the reverse pin bar positively and wait to see if it will be invalidated for the up move to continue.
The 3 levels highlighted should present many tradeable opportunities with well-defined stop losses should you decide that you are an Aussie Bull. Reverse those levels if you are a bear.
The RT Team reckons that the sentiment for Aussie dollar is neutral at the moment given the superb economic data, where job creation beat estimates by a large margin. Moving forward we expect the up move to continue if 0.7520 is not compromised. We choose to view the reverse pin bar positively and wait to see if it will be invalidated for the up move to continue.
The 3 levels highlighted should present many tradeable opportunities with well-defined stop losses should you decide that you are an Aussie Bull. Reverse those levels if you are a bear.
Nota
The AUDUSD has entered into a phase of consolidation between 0.7565 and 0.7635 As long as the AUDUSD bulls can protect 0.7566 the bias is still bullish.
Interesting to see what happens from here.
Nota
AUDUSD broke above 0.7640 on the daily chart invalidating the double top as some might call it. Upside momentum or uptrend resumes.
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