Price posted a higher low, higher high pattern and is now in a decline. The previous HH couldn't close above the zone of resistance, which may indicate weakness in the up move.
The Weekly MA's are to the downside whilst the Daily MA's are to the up.
For me i am neutral on this pair at the moment. The Daily Bearish engulfing pattern which swallowed two candles is still in play, so I expect PA to reach the lower TL. However the fib 61.8 may hold price causing it to rally.
AU is currently in a sym pattern, I'd expect a break to the downside more likely, but nothing is clear at the moment.
My overall target is 0.645.
Happy Trading!
Chartster
The Weekly MA's are to the downside whilst the Daily MA's are to the up.
For me i am neutral on this pair at the moment. The Daily Bearish engulfing pattern which swallowed two candles is still in play, so I expect PA to reach the lower TL. However the fib 61.8 may hold price causing it to rally.
AU is currently in a sym pattern, I'd expect a break to the downside more likely, but nothing is clear at the moment.
My overall target is 0.645.
Happy Trading!
Chartster