AUD/USD Selling on Rallies Towards M L3 Camarilla

Nenad Kerkez Top-XE

The AUD/USD is still bearish as long as the price is below M L3 pivot. 0.6853 zone shows sellers and we should see bearish continuation move.

As we can see from the chart, the pair is still bearish. We can also see a big head and shoulders pattern which cues for a continuation lower. Below 0.6853 targets are 0.6820 and 0.6808. A move lower towards 0.6765 might be possible next week as the ATR(5) is only 36 pips, indicating slow market. Only above 0.6933 the trend will change.

The analysis has been done with the CAMMACD.Core System.

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Author

Nenad Kerkez

Top-XE

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