AUD/USD has recovered 15 pips from the session low of 0.7057, possibly on reports stating that China may cut the reserve requirement ratio in the second quarter. The bounce, however, is taking the shape of a bear flag – a continuation pattern, which usually accelerates the preceding bullish move – on the 5-minute chart. A break below 0.7070 would confirm a flag breakdown and open the doors for a break below the session low of 0.7057. That looks likely, as the futures on the S&P 500 continue to trade in the red despite China rate cut talks. 5-minute chart Trend: Bearish FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Digitec Galaxus, the largest Swiss online retailer, now accepts cryptocurrencies FX Street 4 years AUD/USD has recovered 15 pips from the session low of 0.7057, possibly on reports stating that China may cut the reserve requirement ratio in the second quarter. The bounce, however, is taking the shape of a bear flag - a continuation pattern, which usually accelerates the preceding bullish move - on the 5-minute chart. A break below 0.7070 would confirm a flag breakdown and open the doors for a break below the session low of 0.7057. That looks likely, as the futures on the S&P 500 continue to trade in the red despite China rate cut talks. … Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
