The pound aussie has been closing down for several days in a row now after a fairly solid rally over the last month. Having slipped below the 200EMA on the 1H chart it is possible that we might see testing of the resistance around the 1.728 - 1.734 area. Rejection of this would signal good long entry with a short term target of the 1.763 resistance that held from July-Sep last year. Good for traders looking for a weekly swing trade. As always look for further confirmation and for entry timing.
Order cancelled:
Good entry signal not received.