BUY AUDUSD Ahead of AUD Data

12 Oca 2016

Currently, the US Dollar is facing some resistance as it's staying in a triangle pattern, which will more than likely turn into a correction based on DXY, Gold, etc. At the same time XAUUSD has completed a weekly bullish engulfing candlestick from last week at a critical area, which is in a long term wedge. Currently, XAUUSD is at $1190, which is a retest level/ema support level. AUDUSD is now testing 0.69 a very important support area that lined up with the -1.27 fib area (harmonic pattern buy zone). I am long with a 60 pip stop loss targeting the retest of the broken trendline at around 0.71400 then onto test the 0.74 area if that gets broken.