TimStuyts
Short

AUDUSD breaking lower

FX:AUDUSD   Australian Dollar/U.S. Dollar
109 0 4
Have a look at my previous post for context and scenario's.

AUDUSD scenario planning


Price is breaking lower and with FOMC on the agenda later today we have to be careful.
For the bullish scenario I like to see a daily candle close back within the triangle. In that case I will wait for a consolidation before looking for a buy AUDUSD             . I will update in case this scenario becomes active.

The other scenario is to sell AUDUSD             . Due to the clear break lower, I will wait for a retest/consolidation of the lower triangle line towards 38.2% Fibonacci ratio (also a harmonic target for that possible BAT buy pattern).
Once we see it consolidate I will look for the break lower to sell AUDUSD             .

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