Simplify-
Short

audusd resumes the downtrend? - short

FX:AUDUSD   Australian Dollar/U.S. Dollar
This pair has been in a massive downtrend, and as i posted in a previous chart (please see related ideas), i am seeking for sell setups.
Well this may be a good sell setup :
Price break from a channel to the downside, and it may be a good idea to sell now, or if you are a little more conservative, wait for a consolidation in a lower timeframe, like 15min, and sell on the break out.
As a generic target we could use fib extension, but personally i will just trail the stop, and see what this pair does.
Comment: Moving SL to give more room.
Comment: Possible development of this structure.
snapshot
Nice analysis, thank you for posting
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