Get started
TradeItSimple

AUD/USD - TESTING THE 3-MONTH FALLING TRENDLINE

Short
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
TradeItSimple  
FX:AUDUSD   Australian Dollar / U.S. Dollar
AUDUSD aussiedollarshort polaritychange oldsupportnewresistance Trend Lines
3
1
audusd aussiedollarshort polaritychange oldsupportnewresistance trendline
AUDUSD

AUD/USD DAILY

The rate broke the gap resistance yesterday and is now testing the 3-month falling trendline and former support level at 0.7330.

It came within 10 pips of stop loss, but I am still holding the positions and will be looking to scale in the trade.

My bias is still lower, however I am will be waiting for today's NFP figures before entering any new short positions.

A break above the trendline and yesterday's high at 0.7356 would invalidate my immediate bearish bias, but only to wait for a deeper pullback towards the broken channel around 0.7500 to sell from better prices.

Related Ideas

TradeItSimple
AUD/USD - Old support - new resistance
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.