News

AUDUSD - the Setup when you're not having a Setup

CMC Markets

The current levels of the AUDUSD make for some interesting watching. You can see in the video below that the price has been squeezed in a formation that looks loosely like a triangle but because of a couple of flaws (as I see it) I am not discussing this as a setup in itself. Check out the Support/Resistance levels at the moment though - I think that this inflection point is well worth keeping an eye on particularly at the moment with the AUD being used as a barometer of 'risk-on' particularly with it's strength against the Euro.

[youtube http://www.youtube.com/watch?v=rmdecvlcTRs]

All the best,

DL.


Sign up for market update emails