SamKent
Short

AUD/USD Shorting Plan

FX:AUDUSD   Australian Dollar/U.S. Dollar
137 1 1
The AUD/USD             has broken down recently, completing the triangle formation in the process. At the moment, we're looking at a bullish correction back to recent levels, we're very interested sellers at the point of technical confluence between the previous supportive trend-line (to act now as resistance), the 50%-61.8% retracement level from the recent down move, the 200 SMA to act as resistance, and finally the 50 RSI to act as resistance. Therefore, we're looking to short the pair at around the 0.876 handle, with a stop just above the 61.8% at around 0.8815.
I am short as well...waiting for this continuation pattern to play out. Target = .8468
snapshot
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