AUDUSD Reversed Off 50% Retracement + Broken Bear Flag
AUDUSD is presenting us with a nice opportunity to sell the retest of structure. We have a very nice broken bear flag , as well as a clear reversal off of the 50% retracement of the large bearish impulse leg.
If we manage to break the 0.686 level of support, I will be targeting the 1.272 and 1.414 extension of the bearish impulse leg. The 1.414 extension of the impulse leg has clear confluence with the 2019 structure lows.
If we manage to break the 0.686 level of support, I will be targeting the 1.272 and 1.414 extension of the bearish impulse leg. The 1.414 extension of the impulse leg has clear confluence with the 2019 structure lows.
Trade active:
