AUDUSD has been tanking in a descending channel from the 6th of January, bouncing off of the channel's support and resistance trend lines. The pair is currently testing the channel's resistance line. Here, we are waiting for a rejection. A daily close below the aforementioned resistance line is my confirmation for a short trade. I expect AUDUSD to respect the current trend and tank to test the 0.76000 support zone. Entry point 0.77300, stops 0.77805 and taget 0.76000
N.B. Trading ideas are subjective. Individual analysis adviced.
N.B. Trading ideas are subjective. Individual analysis adviced.