AUD/USD has gained more than 350 pips for the last week. The market has shown its trend reversal from this week beginning and noted for the short of 150 pips.
Other than the economic impact of yesterday, the gradual downtrend has been doing for this week’s consideration. USD has gained a sum of 50 pips during the news impact and reached its yesterday’s resistance of 0.91477.
The moving average is assuming the short trend which has raised the belief over the trend. After it achieved its low on yesterday, the island reversal has been occurring on one hour pattern.
In favor to this reversal, the trend could have found its resistance of 0.91185. This could have been revealed a great belief on the trend extension of short. There should be a good downward extension to meet its support of 0.90267.