FX:AUDUSD   Australian Dollar/U.S. Dollar
AUDUSD             short setup:
This pair has recently sold off from the third touch of daily trend line it seems to have formed. Price has been somewhat ranging and currently seems to be forming a bearish flag/wedge like pattern. Price bounced from support and may have completed its C retracement at the 50 fib level which is confluent with the daily 200MA, however there's a possibility it could go higher. I will be looking for shorts on a break and retest of the CTL and there will be opportunities to add to the position on a break and retest of support. Short term targets= 2015 lows, Mid term= 0.7400 area at -27 fib extension and overall longer term looking down to 0.7150 area which is the height of the current range added onto the break of support.
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