Near Term Trend: Neutral
Sunday’s Trade: 0.74555 (- 39)
UPDATE: In our last report we pointed to the Key Downside Reversal which was formed (market traded above the previous days’ high but then closed below the previous days’ low).
Based on that pattern, we “Cautioned this may be an indication more selling pressure is about to be enacted”.
Subsequently, that is exactly what has taken place as the Aussie sold off roughly 140 points in the last five trading days.