DislikedAUD/USD Further easing may be planned by the RBA and the news of this caused the AUD to plunge yet again. Price is now drifting short after this drop as buyer try to make up for having missed the initial volatility and therefore sell late in order to make up for this. The drifting PA is only noticeable on the lower TFs and I would wait for it to become visible on at least M30 before initiating a long. There following chart illustrates two possible golden level candidates. The first has .50 fib confl. drawn from significant highs and lows while the...Ignored
I have dug up several other levels on this pair since price is heading toward a long-term range which gives us many potential levels to trade from but also a lot of ambiguity. The drift therefore has to be well extended and formed to take a long. PA is the main factor here.