We prefer to go short in AUD/USD

FX:AUDUSD   Australian Dollar / U.S. Dollar
Positioning Bias:

AUD/USD is facing strong resistance around 0.8200 and any short term trend reversal can happen only above that level.

On the up side break above will target 0.8275/0.83745 (Dec 10th high).

The pair’s minor support is around 0.8030 and any indicative break below will target 0.7933 ( 61.8% retracement of 0.6005 to 1.10792) /0.7800 in short term.

Indicator (4 Hour Chart)
CCI (50) – Sell
CCI (14) – Buy
Ichimoku- Neutral

Recommendation: Sell AUD/USD around 0.810, SL 0.8200, Target 0.7800.


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