02.10.201810:42 Forex Analysis & Reviews: AUD/USD analysis for October 02, 2018

Long-term review

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Recently, the AUD/USD has been trading downwards. The price tested the level of 0.7171. According to the H1 time – frame, I found the end of the upward correction (irregular type 2) in the background, which is a sign that sellers are in control. I also found the breakout of the key support trendline in the background, which is another sign of weakness. My advice is to watch for selling opportunities. The downward targets are set at the price of 0.7143 and at the price of 0.7086.

Trading recommendations for today: watch for potential selling opportunities.

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