PriceActionTrading
Short

AUDUSD CHANNELING BREAKOUT?

FX:AUDUSD   Australian Dollar / U.S. Dollar
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WITH ALL THE SELLING OF GBP NZD AND EUR.
IT IS NO SURPRISE TO ME THAT AUD WILL FOLLOW SUIT AND SELL OFF, CORRELATION WISE.
(NZD CORRELATES WITH AUD, EUR WITH GBP.)

LOOK HOW PRICE REACTS WHEN IT NEARS THE 200 50 20 SMA CONFLUENCE AREA.
AND LOOK TO SELL ON BEARISH PRICE ACTION H4 LEVEL,
PREFERABLY 0.785

NOTE :
DOUBLE BOTTOM @ 0.765
PRICE REJECTED FROM 200SMA H4 TWICE.
THE AREA AROUND 0.785 WILL HAVE HEAVY CONFLUENCE.
NFP COMING TONIGHT.
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