AUD/USD is currently stuck in sideways channel movement, having today had a surging bullish push to retest the previous resistance zone of 74400. We now see a candlestick formation, giving a grate short trading opportunity on this pair.
Lets see how this pans out!
Price has broken and closed above 1.09500 level creating a higher high. now looking for price to pull back down to previous resistance (which will no serve as support) and look to go long once price reaches the 1.09430 level. looking to take profits off at 1.10570 for 3 reasons
1. Equal Measured Move from A Leg to B Leg
2. 1.618 Extension taken from A Leg to B...