A/U: slices through 0.865 support. 600 + pip Bear Flag started?

The A/U sliced through 0.865 support on the back of a strengthening USD and the fall with Gold. The close below 0.865 would support the 600+ pip Bear Flag brewing here.

A/U 30 min: yet again London and US traders would have been able to enjoy a low risk high return trading opportunity here:

AU30min

A/U 4hr: price didn’t even really blink as it sliced through key support at 0.865:

AU4

A/U daily: a weekly close below 0.865 would confirm a Bear Flag breakout for me and suggest that 0.80 will be the main target:

AUdaily

There is AUD employment data today to monitor here and then RBA minutes and NFP on Friday.  Chinese Trade Balance is on Saturday. I will then be looking for a test of 0.865 to enter short.

3 thoughts on “A/U: slices through 0.865 support. 600 + pip Bear Flag started?

  1. Hi Mary,

    You said: “A/U 30 min: yet again London and US traders would have been able to enjoy a low risk high return trading opportunity here:”

    Would you explain whether you look for the dark green line and what line is this?

    • Hi Mahmut,

      The dark green or teal line is a 21 EMA.

      I’m looking for a breakout with momentum.

  2. Hi Mary,
    Any hope for 50 % Fib holding the price for a bounce because in my view if .8535 i.e 50 Fib break then there wont be any testing of .8650 and today’s bounce that A/U had was around .8625.

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