The Aussie has lost upward momentum against $US this week. On the chart this is indicated by:

  • A trend peak under the upper Bollinger Band following the strong momentum peak above it and
  • The slow stochastic indicator now trending down from the overbought zone.

From here, a break below the 20 day moving average would confirm a trend change. This would set up for a potential test of the uptrend line and lower Bollinger Band (currently below .75)

 

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