Last week our Bullish expectations for the AUDUSD became reality and the price reached the Monthly Pivot Point at 0.78624. Now this point represents a highly important structure on the chart as we expect this area to serve as strong resistance for the pair. If price fails to break above this zone, we may see a move down to the structure at 0.7750.
Our expectations for this week for AUDUSD are Bearish, with potential short position taking around Monthly Pivot Point as it offers very good Risk-To-Reward ratio.
Our expectations for this week for AUDUSD are Bearish, with potential short position taking around Monthly Pivot Point as it offers very good Risk-To-Reward ratio.