Forex Opinion & Analysis

Chart Of The Day: AUD/USD

AUD/USD Daily Chart.

AUD/USD was the chart of the day on July 27th, and once again we are back at the same spot with a similar view. The fact of the matter is AUD/USD has failed to rally with global risk assets and the S&P 500 is now just 30 points (or less) form the all time highs, and the AUD/USD can’t even get above the .7420 previous support. A bear flag is developing and now a move below the .7350 level may put the .7058 long term 38% Fibonacci retracement in view as daily RSI has worked off oversold condition and is back to neutral.

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