Looking at this simple downward channel with strong momentum moves everytime price has touched this downward channel. Price has also come up to test the supply zone. With AUD employment change news this week, we can expect some strong moves going into Wednesday and Thursday.
We can see price testing resistance and we see a momentum move to the downside. In addition we have formed a downward channel. We wait for price to test the channel plus the strong resistance area before going short.
