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AUD/USD Selling on Rallies Towards M L3 Camarilla

Nenad Kerkez

As we can see from the chart, the pair is still bearish. We can also see a big head and shoulders pattern which cues for a continuation lower. Below 0.6853 targets are 0.6820 and 0.6808. A move lower towards 0.6765 might be possible next week as the ATR(5) is only 36 pips, indicating slow market. Only above 0.6933 the trend will change.

The Analysis has been done with the CAMMACD.Core and Sit Systems

This article was originally posted on FX Empire