I have entered short on the AUD/USD @ 0.7160.
Stop @ 0.7250
Take Profit at 0.7000 and then 0.6850 if the outlook suggests further downside.
The retracement could not close above the trend line and back in the triangle. Fundamentally the USD is still strong so as long as it can remain supported (after the FED's Dudley's dovish comments today) it may turn back in the direction of the down trend. This may need a strong NFP reading to instigate the move down.
Stop @ 0.7250
Take Profit at 0.7000 and then 0.6850 if the outlook suggests further downside.
The retracement could not close above the trend line and back in the triangle. Fundamentally the USD is still strong so as long as it can remain supported (after the FED's Dudley's dovish comments today) it may turn back in the direction of the down trend. This may need a strong NFP reading to instigate the move down.
Trade closed: target reached:
I closed half of the position on TP1 and left the other half to run at break even.