The Australian dollar has been performing very well this month after its slow start to the year. Employment Change was positive with 42k from an expected 10k last week Wednesday, and with Philip Lowe speech this morning which complemented how the economy is picking up and is expected to in the coming months is a sure indicator that the Australian economy is doing well. However, Fundamental (FOMC rate hike) and Technical analysis signals an end to the Aussie bullish run against the US dollar.


Support: Green
Resistance: Pink
Fib: Gold/Yellow


Aussie bulls have reached their monthly target. Bears are expected to come in and take the price down to the central pivot


Opened at the WM3 this week, sell zone for bears to take it down to Weekly S2. Price failed to make a higher high after coming off the 21.


We see price came off the 55, predicting a double top. An aggressive entry will be now at 0.76200 with a SL just over DR1 (0.76400). A more conservative entry will be to wait for a lower low then enter on a lower high

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