April 8th AUDUSD

April 8th

AUDUSD

  • On Weekly we see this is Bullish overall with the current price close to the Supporting Trendline (Purple).
  • We are sitting on the 85 EMA (Green) roughly and should start pushing towards the 200 EMA (Black) and further over the coming Weeks.
  • Buying can start on this soon when it's tested the support.
  • RISKY BUSINESS
  • This is showing a Bearish movement on Daily, but the question is has it finished yet?
  • Last Daily pin suggest it will break this major support and continue down.
  • Push could go to the Weekly Trendline (Purple) or even to the minor Support line.
  • Bollinger Band seem to agree.
  • Fibbs (not shown) show we are currently in the 61.8 area, so it could go either way.
  • This is risky as it's very close to it's natural bottom and maybe happy to turn around right away.

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