RicardoZuniga
Short

Possible corrective wave on AUDUSD bullish rally

FX:AUDUSD   Australian Dollar / U.S. Dollar
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AUDUSD             has been on a bullish rally the last few months, now sitting at a strong daily resistance area could it be the start of a corrective wave on the downside for this pair? AUDUSD             wasn't able to break pass 0.7608 levels on the weekly chart, plus showing strong rejection towards that area on different timeframes as well. An impulsive wave pattern was formed and with Monetary Policy Meeting on Monday for the Australian dollar             and important retail sales data coming out on tuesday for the US dollar             it coulld trigger that corrective move to the downside. Waiting for more confirmation to enter a short position. Targets :0.7400, 0.7300, 0.7112 area.
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