AUD/USD – Week 3 – Is the market starting to correct?

Last week the Australian Dollar ended the week against the US Dollar exactly where it started. Our prediction still stands for a bigger bearish corrective move, but no confirmation yet. We are at the bottom of an ascending channel, with a slim chance to break the top again. Until we get a solid bearish candle underneath the lower line of the channel, we will approach it cautiously. We may benefit from some volatility, as this week will be a busy one for the “Aussie”, with the Australian Bureau of Statistics releasing important employment data that can ultimately impact the pair.
Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.

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