Technical Analysis AUD/USD interesting levels

The Aussie is at interesting levels being at a monthly resistance. These current technical levels is where the current down trend can either be compromised or rejected.

On the monthly chart a typical continuation pennant has formed. Volume has expanded into the initial move of the pattern and contracted on the formation. The next signal is to watch for a break of the pennant with a spike in volume. see chart.


Things to watch out of this week.
Fundamentally this weeks data that will effect the aussie.

Cash rate
Building approvals
Retail sales
Trade balance
Forex Trading for profit. :slight_smile: