davidleekuanyong

AUDUSD rejection of 0.75400 resistance

Short
FX:AUDUSD   Australian Dollar / U.S. Dollar
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3
For the past couple of days AUDUSD failed to break 0.75400 resistance zone . And as of 26 April 9.40am Msia Time, prices had a strong rejection. AUDUSD could be heading towards 0.74912. Second target 0.74800. If prices break above 0.7540, it will invalidate this downtrend analysis.
Comment: market's had hit 0.74912, with lowest at 0.74890. As of writing, prices could be heading back to 0.74912. If that level breaks, second target will be 0.74800.
Comment: taking into account of latest price action, new resistance is at 0.75300. If prices breaks above this resistance, it will invalidate this downtrend analysis.
Comment: The markets hit 0.74801 target and my trade is closed. I will pay more attention to 4hr timeframes as it can help me get better price action.
Trade closed: target reached: trade was closed on apr 26