IAmSuperMike
Short

20161113 - AUDUSD Weekly Bias

FX:AUDUSD   Australian Dollar / U.S. Dollar
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Analysis:
QP at .775 was rejected.
vertical support level beginning in June has now been was broken on previous 1D candle.

Expectation:
Expecting a slight retrace to test the trendline and bounce back down.

Entry:
Wait for retest of new vertical resistance.
Look for bearish candlestick pattern

Target Levels:
TP1: 0.750
TP2: 0.725

Invalidation:
This setup becomes invalid if trendline is broken
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