Forex Opinion & Analysis

AUD/USD Correction Opportunity

Bearish: AUD/USD currently at 0.6940 in a range and a corrective channel. We are looking for a continuation to the flag target (abc) at 0.7045 area and then the selloff.

We have convergence in play for the up move. Watch the USDX for directions. The average daily true range (ATR) for the pair is 85 pips and its 180 day average is 93 pips per day. USDX is currently threatening down.

AUD/USD correction opportunity


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