This week on AUDUSD can be very interesting. Thursday’s (23.11) day candle set the range of Inside Bar 0.7600 – 0.7638. Today’s quotations during the Asian session fell below the lower limit of IB but after opening the London Stock Exchange returns back to its interior and now (27.11 noon) breaks out the top.
If the closure of today’s candle is clearly above IB ie 0.7638 then we can assume that today’s night quotes were a false breakout. In this situation, I will be looking for opportunity to buy after the appearance of some bullish pin bar on H4 or even on H1.
The first target is 0.7680 and the long term – 0.7730. If the price would return to IB and drops below the today’s minimum, the bullish scenario would be negated and then we could expect a decline at least to the recent minimum 0.7530.
There are not many macro events for AUD this week but any way we should be aware of some extra volatility for those listed below:
