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AUDUSD - This leg could go down between .71600 to .72000

Short

Australian Dollar / U.S. Dollar (FX:AUDUSD)

FX:AUDUSD Australian Dollar / U.S. Dollar

AUDUSD

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audusd

Another chart showing a good possibility of a downside based on Fib . 618 Retracement ... which could take AUDUSD to anywhere between .71600 to .72000

Short on AUDUSD ... with a SL of .77200

Trade closed: target reached: Trade worked out beautifully - good example of how well Fibonacci retracement works!

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Comments

After hitting .618 resistance zone, price came back to previous levels..

Although AUDUSD not only touched Fib .618, it went passed it a bit, the recent down move is only a confirmation of this next big leg down and right now is also a good opportunity to short AUDUSD.