Stoic-Trader

AUDUSD - Measured move to the downside

Short
FX:AUDUSD   Australian Dollar / U.S. Dollar

After last week´s high at 0.69-ish we have made a clear impulsive (blue 1-5) and correction (blue ABC), reaching a 50% pullback and seeing a strong price rejection by bears.

This is looking like a clear ABC our 1-2-3. In any case, there´s a high probability that we will have a 100-161.8% extensions, indicated by the yellow box. I´ll be taking short trades until that level is reached.

Invalidation is at 0.67673.

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