FX.co ★ Aud/Usd fractal analysis for May17, 2010

Aussie has easily overcome the demand zone, which demonstrates the strength of those who are selling. If the euro continues the mid-term decline, the currency of Australia can fall significantly, this is determined by the fact that the pair is on the high for a long time, and where the selling pressure is strong (patterns H&S and Double Top). Now a short-term correction is likely amid other pairs, to the previous levels of the support, after which a descend will occur.
Trading recommendations:
- outside market, it is possible to look for mid-term entries for renewing the low.