AUDUSD has been in a longterm downtrending channel.
More recently price has moved up , and price is currently testing the lows of this internal channel.
The short opportunity is considered for a breakout of this minor channel, but it needs to be confirmed , first with a break and retest of a lower swing point.
Entry is at that point which is in the low teens of the 69 handle.
Stop is above this swing low candle.
The target is the confluence of the major channel support and the extreme low of significant pin bar of Jan 3 2019 around .6750.
Risk Reward is 2.6..........
More recently price has moved up , and price is currently testing the lows of this internal channel.
The short opportunity is considered for a breakout of this minor channel, but it needs to be confirmed , first with a break and retest of a lower swing point.
Entry is at that point which is in the low teens of the 69 handle.
Stop is above this swing low candle.
The target is the confluence of the major channel support and the extreme low of significant pin bar of Jan 3 2019 around .6750.
Risk Reward is 2.6..........