- Written by Sywa Sywa
- Last Updated: 19 September 2021 19 September 2021
- Created: 07 September 2021 07 September 2021
AUD USD Trading Setup 07 - Sept - 2021
Today, 07 - Sept - 2021. RBA just announced the monetary decision which is sound more dovish than anticipated, On Today policies decision the RBA will extend the Bond Purchase decision at $4 billion a week until at least February 2022.
So, lets see the chart and what happen after the decision.
Fractal lines shows limited Upside movement, and Today's price fall below the Channel High range, it is a good possibility that the price will fall to the Upper Channel , and the Upper Line Channel will become a new support.
Daily Chart Summary:
100 SMA : Bearish
55 EMA : Bullish
ROC Indicator : Bullish
from the weekly chart We can see that the price fall below the Upper Channel, and Upper Line of MA Channel on Oct 2020 Intertwined with the current Lower Channel Line.
Using the Weekly chart, there is a good possibility that the price will fall and touch the lower Channel Line.
Trading Position : Bearish
Target 1: Daily Upper Channel.
Target 2: Weekly Lower Channel.