Last week we started with a bullish bias on AUDUSD, but with the disagreements between U.S and China at the summit caused AUD to weaken.
Coming in this week, we are having a bearish bias with the pair and if we get a pullback and test of resistance at 0.7296, we'll get a nice place to enter shorts with our targets set at 0.7131 price zone.
If price breaks our first target, our second target will be at 0.7085
From the chart you can see that the test at 0.7296 will also give us a head and shoulder structure which is a bearish pattern.
Coming in this week, we are having a bearish bias with the pair and if we get a pullback and test of resistance at 0.7296, we'll get a nice place to enter shorts with our targets set at 0.7131 price zone.
If price breaks our first target, our second target will be at 0.7085
From the chart you can see that the test at 0.7296 will also give us a head and shoulder structure which is a bearish pattern.