The Australian Dollar has been a great performer during the last two weeks of trading, with the AUDUSD daily chart pushing into higher highs. The rapid acceleration into higher prices as caused the market to gap away from the mean value, creating a situation where the market considers the price to be ‘too expensive’. As a result of these expensive prices a bearish rejection candle has formed when the market reacted with a minor weekly resistance level while price is overextended. Given the decent gap between the mean value and price, plus the other variables mentioned, it’s left the AUDUSD vulnerable to a bearish mean reversion move. Price action traders> could look to short the break of the low with the bearish momentum. A good target would be the old resistance level which is expected to act as support and play out as a swing level within this trend. This area also coincides with the mean value, so we anticipate this level to be a “hot spot” for buyers and will be watching for any bullish price action signals to manifest here to help us position in long with the overall upward momentum. Dale Woods Dale Woods The Forex Guy is an educational Forex trading blog run by Dale Woods who has been a passionate retail Forex trader for over 6 years. Dale trades the Forex market exclusively with price action based methodologies, believing price action trading to be one of the powerful approaches used the market today, and really is the core foundation of any good trading system. Dale also strongly believes in keeping charts clean and keeping things simple, logical and uncomplicated. By making trading decisions straight off the raw price action data, you can ‘bypass’ unnecessary variables like exotic indicators, trading robots or magical pivot levels. Dale enforces the idea that there is hardly any edge trading news and economic data releases and much prefers to make trading decisions straight from the candlestick themselves. ‘The Forex Guy’ is dedicated to providing knowledge to serious and passionate traders who want to learn the art of price action trading, positive geared money management and how to psychologically condition themselves to become a professional trader. View All Post By Dale Woods AUD/USD Daily OutlooksForex News Today: Daily Trading News share Read Next USDJPY broadly unchanged after Japanese Industrial Production data Aayush Jindal 8 years The Australian Dollar has been a great performer during the last two weeks of trading, with the AUDUSD daily chart pushing into higher highs. The rapid acceleration into higher prices as caused the market to gap away from the mean value, creating a situation where the market considers the price to be 'too expensive'. As a result of these expensive prices a bearish rejection candle has formed when the market reacted with a minor weekly resistance level while price is overextended. Given the decent gap between the mean value and price, plus the other variables mentioned, it's left the AUDUSD… 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.