$AUDUSD Short opportunity on rejection from 0.92,0.9225, 0.9250
Key resistance level to watch intraday are 0.9200,0.9225, 0.9250.
Any of this 3 levels are a good selling level, Because of that Stop are placed beyond 0.9260
Regardless of entry point Stop should not be placed more than 0.9275, doing so would likely shift AUD/USD back above the Ichimoku Cloud and invalidating the Short Trade Idea.
Target #1 is located at 0.9030, 161.8% extension from last week's recovery.
Target#2 is located at 0.8950 , keep in mind this is very close to Weekly chart 161.8% Extension.
For those who prefer multiple targets, remember to close some/half at target#1
UPDATE: 07/03/2013 04:00 GMT
Adjust Stop to 0.9200. This is now risk free trade. Those that entered at 0.9225 or 0.9250 can now lock in some profit. Not too far to go to target #1
Any of this 3 levels are a good selling level, Because of that Stop are placed beyond 0.9260
Regardless of entry point Stop should not be placed more than 0.9275, doing so would likely shift AUD/USD back above the Ichimoku Cloud and invalidating the Short Trade Idea.
Target #1 is located at 0.9030, 161.8% extension from last week's recovery.
Target#2 is located at 0.8950 , keep in mind this is very close to Weekly chart 161.8% Extension.
For those who prefer multiple targets, remember to close some/half at target#1
UPDATE: 07/03/2013 04:00 GMT
Adjust Stop to 0.9200. This is now risk free trade. Those that entered at 0.9225 or 0.9250 can now lock in some profit. Not too far to go to target #1