Daniel.Dalo

AUDUSD - Short Entry at Structure

Short
OANDA:AUDUSD   Australian Dollar / U.S. Dollar
This pair is touching both a demand level and a major resistance at $0.7036 with overbought conditions as well. My expectation is that price will enter either a correction or a strong reaction at this level. If it keeps going further, it might signal a correction-continuation pattern, so stops can be tight to protect ourselves. Hopefully the reaction is quick and strong with targets around $0.6940 just anove the most recent support level.
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