Directional Bias for this pair was bullish .
Currently in a very large corrective move , price was respecting a small price structure that it had broken out of yesterday so to consider longs we need a strong break from my 4hr TL and for price to close above 0.73685 then to head to my first target of 0.74691. If we can break 0.74691 completely I see the Aussie dollar flying.
There is a possibility for a short trade because now that price structure has broken if price keeps falling we need a break of 0.72359 to enter this trade but I won't get confirmed shorts until 0.71673 is broken.
Currently in a very large corrective move , price was respecting a small price structure that it had broken out of yesterday so to consider longs we need a strong break from my 4hr TL and for price to close above 0.73685 then to head to my first target of 0.74691. If we can break 0.74691 completely I see the Aussie dollar flying.
There is a possibility for a short trade because now that price structure has broken if price keeps falling we need a break of 0.72359 to enter this trade but I won't get confirmed shorts until 0.71673 is broken.