Price has made a run up to the monthly R3 CAM , which provided support earlier this morning and held price for a few hours. It'll be interesting to see if that support has turned into resistance. If it has, it'd be a good area to enter a short trade.
Profit targets are difficult to determine. But somewhere in the vicinity of a 60-70 pip drop would be reasonable for a first wave.
I'll update this as (and if) it develops.
Cheers and good luck,
I'm still waiting for confirmation to enter, but you may want to enter now at a high level. But you'll need a large stop loss to cover potential moves - which means money management is key.
It's found some resistance at 1.0930 due to entering a high volume zone. I'd still expect it to fall further, and trade balance and retail figures for AUD coming out today may (MAY!) push things further down.
Regardless, this is a longer term short unless something changes.