FX:AUDUSD Australian Dollar/U.S. Dollar
The trend for the AUDUSD has been very lately and there is a good short term play with trend setting up if price retraces back up into structure. There is a clear resistance shelf that has formed right below the .75 even handle and if price pushes back up to that and holds then it might be a good shorting opportunity to get with the trend and have a very low risk/reward set up. As a short term trader i would only be looking for a small pull back for target one and then if price keeps moving down, ill watch what happens at the lowest structure level, if price just breaks through then follow on targets can come later. Most likely the area of .7340 will be the place to take off targets though.