FX:AUDUSD Australian Dollar/U.S. Dollar
While we all know Aussie to be weak fundamentally, the technicals were not getting aligned. It was consolidating much part of this week around 7700 levels. Well on a friday, it decided to break down this level. We look to Short AUDUSD on a retest to 7680 - 7700 levels. SL will be 7785. We prefer a bigger stoploss for the trade to get enough breathing space. Hence we favour a smaller position size. TP 1 will be 7600. TP2 will be 7500 and TP3 will be 7100. Good Luck Trading.