Alex.Singletary
Short

Critical point for AUDUSD

FX:AUDUSD   Australian Dollar/U.S. Dollar
35 0 2
Failure to break above the trend line and first S level will signal a sell and we should see an impulse down.
Breaks above 7240 will test the 200 EMA
Breaks above the 200 EMA will test the shown R Levels

Outlook: Bearish
However we are not afraid to take a long position if 7240 breaks

Read the PA before entering the market
Catch the impulse, don't play around in the consolidation
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