Strong downtrend in the AUD/USD has a possible continuation. T1 Pattern has formed below W L3, M L4 Camarilla Pivot.
The price is trying to proceed with the continuation pattern towards W L3 pivot point and possibly M L5. 0.7440-55 is a possible rejection point with 0.7422 and 0.7388 as next targets. The AUD/USD is a slow moving pair with only 64 pips of ADR so it might take some time to get there. However, the bearish pattern is in play so pay attention to it. As long as the pair is kept below 0.7490, bears should be safe.
Nenad Kerkez aka Tarantula FX
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