AUDUSD Daily Chart-Do We Have the Beef to Continue?
We are right up against a major daily resistance level on the AUDJPY daily chart. We have made a spectacular run up but now we are beginning to see a bearish RSI divergence-are we ready to head lower? Will we find the means to press higher into new highs (in this window of analysis)? If we get a push lower, expect the first recovery high to be the battlezone. I would rather like to see the current level hold, push lower, coming back to form a double top in which I would have a solid ground (the retracement point) to reference any potential reversals. As I pair fibonacci and price structure analysis, I would like to see a bit of a flush, leading to a small recovery in which I could load up on shorts. More on this to come in the week that unfolds.
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