AUDUSD Looks toppish- caution both long and shorts

AUDUSD into a supple zone as marked. We have initiated short and stops as seen above.


Divergence on AUDUSD ( bearish) and on DXY (Bullish) may lead to dollar buying.

Since last couple of months Aussie is following the S&P 500.

IF S&P breaks higher, Aussie may break higher as well. Trade with caution.

Comment:

Refer to this screenshot to see the relation between S&P 500 and AUDUSD

Trade active:

active at 6850 and second entry at 6890

Trade closed: stop reached:

Vicious vicious rally in Aussie. This pair is acting like a safe haven. Outlook is now bullish.

Will buy the dips. Eventual target above 70 cents upto 72 cents.