Price is trading within a long-term wedge and should be on its way to the bottom side. Currently in a downtrend, is retraced upwards to the 50% fib level of the latest drop and looks to be resuming its bearish movement. After the close below the box, I waited for a retest of the 1.46446 support level.
OBSERVATION: Since September 2016 price has been ranging within a wedge. The 1D view is showing that price has closed below the bottom trendline and bounced back up to a resistance zone and closed below it. All EMAs are bearish and the 20 is about to cross over the 50. We could see the start of a downtrend so I will be entering short targeting first 131.650.
Pair: AUD/USD HR News: Thur., Fri. OBSERVATION: Price declining after hitting resistance level previously hit in May 2015. I will enter short on this pair after todays candle closes below the marked zone. 1-week view shows a breakout happened on the 10th of July meaning that price could be on its way down to retest the 0.775 area.