Last week, the Australian Dollar respected our analysis and dropped from the resistance level. In the coming week, we expect the bearish sentiment to return, as we bounced off the support area. For that to happen, we will wait for a small correction to act as a confirmation. Keep an eye on Thursday’s Australian Unemployment Rate data, as it could cause some volatility for this pair. Trade with care.
Best regards, Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.