NFFX
Short

AUD/USD - SHORT

FX:AUDUSD   Australian Dollar/U.S. Dollar
Ok I know theres a lot of retail traders out there waiting to get in on this pair for the next move down these are my views on it at the moment ive got a scenario for a long idea also but i see it going short too at least 0.7200 for now...

Note: Blue areas of support/resistance are Monthly
Purple areas of support/resistance are Weekly


Monthly

  • March' candle finished as a shooting star off of support turned resistance

Weekly

  • Evening star formation (last 3 weeks of March)
  • Gravestone doji off resistance
  • Support broken & retesting
  • Hanging man followed by spinning top showing indecision at the moment

A break and close below 0.76000 i believe will lead down to the 0.72500 region where we have that HUGE monthly trendline

Daily

  • Rejected off of the 0.50 fib level drawn from the previous Lower High
  • The -61 Fib extension from this fib also lines up with support for an added confluence
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