AUDUSD weekly. Currently testing resistance

Australian Dollar/U.S. DollarFXCM

Description

⋅ Aug 16, 2016 9:11 AM

AUDUSD is testing resistance of a descending channel. With a daily close above this and retest price could go to 0.7820 is first target and 0.80 is second. It would take a close below the blue trendline before I would consider a short