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AUDUSD: Positioning Hints Bearish Reversal Imminent

AUDUSD: Positioning Hints Bearish Reversal Imminent

2010-03-19 01:46:00
Ilya Spivak, Sr. Currency Strategist
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AUD/USD

Strategy: Pending Short

AUDUSD positioning hints of a forthcoming bearish reversal with prices showing a Harami candlestick pattern below resistance at the upper boundary of a Rising Wedge chart formation. We will wait for confirmation on a bearish close for the current candle and begin look for selling opportunities.

031810 AUD


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