FX:AUDUSD   Australian Dollar/U.S. Dollar
Price is in an aggressive trend on AUD/USD             as shown by its location in referece to the moving averages . The present setup takes advantage of this aggressive downtrend backed by a shallow retracement into a previous level where price has found resistance (0.7070). Resistance is also seen at the 8 ema and raised seller interest is evinced by the formation of a high test bar which appears to be closing below the ema. There is convergence on the Stochastic and RSI indicators.

entry - below low of today's high test close
stop loss - above high of today's high test close
target - previous low or lower

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