The Australian dollar has performed beautifully so far this week. I mentioned this ascending channel on March 28th and again in Saturday’s weekly forex forecast, which AUDUSD is so far respecting perfectly. If we contextualize this channel with the downtrend that began in February, it looks like a bear flag pattern. However, as mentioned last week, we can’t call it a bear flag without a higher time frame close below channel support. Until then, it’s simply an equidistant channel. You may have noticed how AUDUSD has “hinged” around 0.6725 this week, a level also discussed on Saturday. If today’s session closes below ... (full story)