Aussie Long, Price Rejecting Major Support Area

FX:AUDUSD   Australian Dollar / U.S. Dollar
559 3 1
This trade could last a few days, if not all this week. Price action indicates a retracement. It's either a short term retracing bullish trade, or a bullish wave that will go back to resistance at the upper range. Hope my annotations are explanatory enough.
metalhe4der Bradbeard
Care to elaborate on your comment? This is a chart 2 months old...and yes, I was wrong on that one trade. I've been Aussie bearish since we came below that highlighted level.
It seems that USD strength has caused this trade to become a loss. However, I am curious to see how this develops over the next few days. Either it will range around this area and then continue lower, or it will retrace to my original target area, or even turn around and touch the upper boundary around 1.08
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