Another short set up on AUDUSD
since downward momentum on the previous set up (idea linked) failed is on offer. The present set up comes after a deeper pull back, organic in a sense, into the 50 ema
which also lines up with a previous level of support (~0.7250), now acting as resistance, and the 0.618 FIbonacci level. Price closed as a high test bar. Oscillator convergence is visible.
entry - below low of high test bar
stop loss - above high of high test bar
target - at or below previous low