I’m seeing a head and shoulders pattern forming on the 1-hour chart, which suggests that 1.0400 is already a top for AUD/USD. Fundamentally, there’s a bit of bearish sentiment for the Aussie because of their recently released weak economic figures (trade deficit and weak home loans) but gold prices are keeping it propped up.
I have a short AUD/USD trade since yesterday, but where do you guys think this pair is headed? I’d love to hear your feedback!
how would you enter if you were to buy the aud/usd? Enter at 1.045?