JohnFortune

AudUsd - Downtrend Still Intact

Short
FX:AUDUSD   Australian Dollar / U.S. Dollar
Last week AudUsd performed nicely taking out both targets from last week. We go into next week with the downtrend still intact and therefore further declines seen as the higher probability move. Price is re-testing broken support as resistance at 0.75715 providing a great place for the Bears to look for Shorting opportunities down towards the target and next key area of support at 0.74888. A deeper correction and re-test of the 0.76274 area of resistance would also provides a great potential shorting opportunity.
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.