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 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.

Daily Chart

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

Weekly Chart

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.

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