This pair has formed a double top and started to drop aggressively with big bearish candles. It has also broken a ascending trendline and currently doing a retest.
Additionally, it did also break a Support level and currently is retesting it as a Resistance level. If AUDUSD fails to break back above, then we can expect further downside movement.
Watch the pair closely and only sell when you see a clear bearish candle close below the current resistance level.
Fundamentals to look out for during the week.
1) USD CPI m/m (Tue)
2) USD Core CPI m/m (Tue)
3) AUD Employment Change (Thu)
4) AUD Unemployment Rate (Thu)
5) USD Core Retail Sales m/m (Fri)
6) USD Retail Sales m/m (Fri)
Risk ONLY: 2-3%
Good Luck
Additionally, it did also break a Support level and currently is retesting it as a Resistance level. If AUDUSD fails to break back above, then we can expect further downside movement.
Watch the pair closely and only sell when you see a clear bearish candle close below the current resistance level.
Fundamentals to look out for during the week.
1) USD CPI m/m (Tue)
2) USD Core CPI m/m (Tue)
3) AUD Employment Change (Thu)
4) AUD Unemployment Rate (Thu)
5) USD Core Retail Sales m/m (Fri)
6) USD Retail Sales m/m (Fri)
Risk ONLY: 2-3%
Good Luck
Trade active
Entering here manuallyTrade closed: stop reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.