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MEX_Exchange

AUDUSD reversing nicely, remain bearish

Short
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
MEX_Exchange  
FX:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns AUDUSD aud USD audusdshort audusdlong audusdforecast Forex forextrading audusdsignal
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2
trendanalysis harmonicpatterns chartpattern audusd aud usd audusdshort audusdlong audusdforecast forex forextrading audusdsignal
Sell below 0.7698. Stop loss at 0.7751. Take profit at 0.7537.
Reason for the trading strategy (technically):
Price is reversing nicely below our major resistance level at 0.7698 (Fibonacci retracement, horizontal swing high resistance) and we remain bearish below this level for a push down to at least 0.7537 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing a nice drop from our 97% resistance level and has good downside potential for our drop.
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