JeffKip
Long

AUDUSD Technical Long on Trendline Break

FX:AUDUSD   Australian Dollar / U.S. Dollar
Notes:
  • Classic break and retest of a major descending trend-line.
  • Target is at 0.74 - the 38.2% Fib Retracement of the Bear Wave from the 78300 high to the 71600 low.
  • Trade will be scaled in as needed.

Key Risks:
  • Renewed June FOMC Rate Hike expectations. (USD upside)
  • Incredible jobs figures this NFP-Friday. (USD upside)

All wave labels are arbitrary.
Comment: Boost! NFP Figures were terrible.
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