alexkyp

AUDUSD potential SELL

Short
FX:AUDUSD   Australian Dollar / U.S. Dollar
1. The pair has been on an upward trend for the past 2 weeks reaching highs of 0.7230.
2. The upward trend face resistance near the 800 EMA and drop back to 0.72 now is heading for retest on the 4hr trendline near 0.7230 where we can expect an M to be formed that should be a great entry point for a sell
3. There is no upcoming news fro AUD in the next week and the GOLD as a major influence to the AUD is supporting our direction of trading