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Abnormal but not unprecedented AUD/USD move

By : Mex Group

Abnormal but not unprecedented AUD/USD move

9 September 2016, 21:01

AUD/USD ADX(14) has just crossed above the key level 50, emerging from the low 30 levels in the previous session.

This event is abnormal but not unprecedented. It sets a scene from a positioning perspective where there is a big imbalance in the supply/demand equation, causing price to quickly search a new value zone.

While speeding up, it leaves behind unfilled sell orders which may cause prices to give back part of the impulsive move. The 200-SMA, now printing above the recent close, could be tested on an upside reaction.

AUD/USD 0001-01-01T00:00:00
0/0 (0%)
H0 L0

S3S2S1R1R2R3
0.7571866512298 0.7582033276557 0.7587666511535 0.7603466510772 0.7613633275032 0.7619266510009

Trend IndexOB/OS Index
Bearish Oversold