AUD/USD - Bearish Continuation Still Expected

By: Doug Rosen

This pair is maintaining bearish. It has pierced the weekly 55 and the weekly lower Bollinger Band is wide open giving price permission to head out. The Stochastics is in the Trade zone but making a bearish cross in the center of the trade zone.



Looking at the daily, we are outside of the price trap and already touched the daily 5 ema so price has had its push downward and I expect it to keep falling downward. Moving over to the 4 hour we are still riding the 5 ema with the 13 always backing the 5. Lower Bollinger band is open and pointing down.



Moving over to the hourly, it looks like we are in a consolidation range. No biggy, price is just taking a break giving the 1 hour 21 ema a chance to catch up. Price is also sitting on last week's low, we need to crack that zone for further continuation to the downside. I will leave it to the hourly 21 to force price through last week's low.



Moving over to the 15 minute the 5 ema has crossed the 13 ema, the stochastics is crossing in the middle of the trade zone to the down side and the lower Bollinger Band is beginning to point down. I expect this pair to keep dropping today, expect a little fight around 1.0153 which is the Daily S1 Pivot. Should do a fib at that level, then look to take a short for continued bearish action.