Exercise-Discipline

AUDUSD SHORT: Fundamental and Technical

Short
FX:AUDUSD   Australian Dollar / U.S. Dollar
Fundamentally: growing monetary policy divergence between the Fed and RBA.

Technically: AUDUSD has broken the 2016 uptrend line.

A 38.2% correction from recent lows was to be expected, given the sheer pace of dollar strength.

The next leg is down to 0.70.

Perhaps the best trade going into 2017.

Trade active: In progress. Target 0.70
Comment: Partial profit (30%) taken at 0.72