AudUsd- extremely bearish under 0.7250

٤ سبتمبر ٢٠٢٠

Since mid-March AudUsd has had a fabulous run, with the pair gaining almost 2000 pips, but more importantly, this translates in a 40% gain.
Coming back in August, we have a false break above wedge resistance which gives me reasons to think that a deep correction will follow.
0.7250 is now important support with a confluence of horizontal and trendline and a break here would put AudUsd in a downtrend in the medium term