OptimoomFX

AudUsd- extremely bearish under 0.7250

Short
FX:AUDUSD   Australian Dollar / U.S. Dollar
Since mid-March AudUsd has had a fabulous run, with the pair gaining almost 2000 pips, but more importantly, this translates in a 40% gain.
Coming back in August, we have a false break above wedge resistance which gives me reasons to think that a deep correction will follow.
0.7250 is now important support with a confluence of horizontal and trendline and a break here would put AudUsd in a downtrend in the medium term
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Comments

Thanks for Sharing us.
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OptimoomFX LairineMedico
@LairineMedico, thank you for reading it:)
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MarkIT_mal OptimoomFX
@OptimoomFX, how long is this sell position for ? are you holding over the holiday weeken ???
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OptimoomFX MarkIT_mal
@MarkIT_mal, if i target 0.7 is clear that i don t expected in one day
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OptimoomFX MarkIT_mal
@MarkIT_mal, but as you can see, is above 0.7250 now...
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MarkIT_mal OptimoomFX
@OptimoomFX, its at the support bar as we speak - lets see what happens in 30 mins
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OptimoomFX MarkIT_mal
@MarkIT_mal, is bearish as i see it, just needs to break. Usd is time to correct and aud din t have power left for now, but will see...
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looks good to me. thumbsup.
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