protegefx

The Bulls Just Broke The Wedge

Short
FX:AUDUSD   Australian Dollar / U.S. Dollar
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AUD/USD basically held steady last week inside the bull rising wedge . However, as Hurricane Sandy approaches the aussie bulls mis-step in their run and broke the wedge .
Near term has remained capped by the recent high at 1.0412. This should ideally curtail the topside for attention to revert to supports. The Initial targets remain 1.0237, focal target is 1.0180.


Strategy: Short 1.03438, stop 1.03757, Cover 1.02485, 1.0237 & 1.0180

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