AUDUSD heading for retest of 0.92 and then lower

8 giu 2014

The Aussie could head for a retest of 0.92 and 0.90 levels in the short to medium term, at present it seems to be bouncing off a downward trend line and creating a descending triangle formation. I expectthat it could break the trendline to the upside toward the end of the triangle and then begin a fall back to 0.90 levels. However I'm also keeping an eye on the US recovery, China and Aussie data which might contribute to a retest of higher levels.

Disclaimer: This is my first TV chart and is pure speculation so I wouldn't go risking real money on it.