AUDUSD may be in a descending wedge

16 באוק׳

Intraday Update: The AUDUSD continues to grind lower towards the 50% retracement, but may be in a descending wedge. This could be a bullish reversal if above descending trend line (back around .6700) and with all the stimulus China has been offering, the risk may be building for a reversal off the .6650 or close to.