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andrew.han

AUDUSD Short : Down Trend Continuation

Short
Australian Dollar / U.S. Dollar (OANDA:AUDUSD)  
andrew.han Updated   
OANDA:AUDUSD   Australian Dollar / U.S. Dollar
support Support and Resistance trendcontinuation short
3
0
support supportandresistance trendcontinuation short
Prior highs need to break for trend reversals to occur. Price is moving towards Near Resistance and is retracing towards a fibonacci level. If these areas hold, short trades may be placed towards the target area.
Comment:
AUD is moving strong towards resistance high. Fall back area is the next high 0.7570 as an area to short when momentum fades.
Comment:
Mid week has AUD between the prior weeks H/L 7590/7440 - H/L 7556/7470. For down trend continuation, we need to see last weeks Low break and with a weekly close below prior week's closes.
Comment:
Near support broken and would clear prior weeks low if it closes below on Friday. Take off some profits.
Trade closed: target reached:
Take profits and enjoy the weekend.
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