CAN AUDUSD CLOSE BELOW ?

AUDUSD has broken a major level of support and has already come back up to retest it, however before we think about short trade opportunities price must make a candle close below the yellow rectangle, once we do we will be entering short trades. Price may make a fake out, that's why we are waiting for the candle close below, price may still move upwards, break the minor descending trend line and continue up to the major descending trend line.

LEAVE YOUR THOUGHTS BELOW

Trade closed: target reached:

Price broke below the rectangle, came back up to retest the rectangle before dropping even further down.