AUD/USD daily and 3-day patternAUD has rotated down into June's 50% level and has continued down breaking Thursday's lows.
In this case, the expectation is a continuation down into Friday's lows.
Often a lower Daily open will get some buyers appearing, and lately Friday has seen most USD spreads rally on Friday's when data-reports are released.
If that's the case on Friday I wouldn't be short trading above the 5-day 50% level.
At this stage the Weekly trend is to continue down into Friday's lows, and I will get a better idea on the next move in the trend once Friday closes and the new week begins.
Short-covering Friday's lows.....
AUD 3-day pattern
