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AUD/USD: More Bearish Below 0.8925

Sameer Kapoor 20 February 2014

AUD/USD: More Bearish Below 0.8925 AUD/USD is once again trying to turn bearish from around 0.9080 area, where we think that wave (v) will complete wave C, final leg of running flat formation from mid-December.

Pair fell more than 100 pips from the highs, but we still need a decline beneath 0.8925 wave (iv) swing to confirm a bearish reversal. In that case we would then be looking for a larger resumption of a downtrend back to January lows.

Forex Analysis by Gregor Horvat at ForexPros. com