AUD/USD has given us an over extended market to the upside on the weekly timeframe. Our first target to the downside to complete the move and satisfy our analysis is around 0.74540. For this to happen we will be monitoring this pair from a 4h perspective and wait for the market to shift from a bull market to a bear market. During the move to the upside on the weekly we can see one candle that is not apart of the move which can serve as strong support. We will be waiting for the market to first break this structure and then monitor for an entry. Remember to do YOUR OWN analysis on this pair and use a strategy that is proven profitable. ALWAYS use risk management.
Order cancelled:
Never confirmed or gave any entry reason to the downside