Peloton
Short Term - We look to Sell at 14.90 (stop at 21.60)
The primary trend remains bearish. The continuation lower in prices through support has been impressive with strong momentum and shows no signs of slowing. We can see no technical reason for a change of trend. Further downside is expected although we prefer to set shorts at our bespoke resistance...
The AUDUSD is approaching a key level in a 14 month negative trend.
With the RBA announcing their interest statement tomorrow, we are expecting a dovish stance.
Entry 0.7130
SELL with stop loss above resistance of 0.7168
Take profit set at 0.7060 and then 0.7020 in extension.