AUDUSD: In Bearish Breakout Mode

FX:AUDUSD   Australian Dollar / U.S. Dollar
1036 6 24
- AUDUSD             has completed a bearish breakout below key support levels
-Break below 0.9200 main horizontal support
-Break below 200-days long term moving average
-Break below support of the short term bearish channel
-Today'retest of 0.9200 was strongly rejected

Next main target and potential support is at 0.9080, which is a previous neckline for an inverted head and shoulders , and also the 50-percent retracement level for the overall bullish trend . Further downside targets at 0.8980 and 0.88880. My risk limit on this trade is a daily closing above 0.9255.

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I closed position at .0.88700 thanks for signal
Hi can I ask at what level did you initiate the short and the factors for it? Did you zoom into 4hr to look for price action?
hello, unfortunately, i didn't have the opportunity to short. But usually, i zoom to the four-hour chart and wait for rejection. Sometimes i just short without confirmation..
dopey99 Technician
I see. Thanks for the reply!
thanks for this post
Technician PRO manijeh.kazemi.33
You are always welcome manijeh :)
+1 Reply
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