AUD/USD Bear Flag from November Low
Chart Prepared by Jamie Saettele, CMT
-Remember, “AUD/USD has followed through on its outside week reversal (lower) so broad focus is still lower.” The near term picture is tricky but AUD/USD remains capped by .7500, which has proven a useful pivot at times since July 2015 (initially as resistance following a gap). Even so, a push above .7500 wouldn’t necessarily flip the script to bullish.” AUD/USD pushed through .7500 and has collapsed. A bear flag has formed, suggesting that the broader move lower is resuming.