SamKent
Short

AUD/USD Possible Kumo Breakout

FX:AUDUSD   Australian Dollar/U.S. Dollar
177 0 1
The AUD/USD             is in the course of an impulsive move downwards; the pair is looking to break the kumo to the downside, it is also trading at RSI<50 and is pointing down in terms of momentum. We're bearish on the pair, however, we don't want to sell so close to the highlighted supportive zone and in oversold stochastic conditions. Therefore, we'd like to see the pair break down and then bounce back to the breakout area with some stochastic correction, at which point we'd be willing sellers.
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