Potential short down to 0.53 level?
Updated
AUD/USD like many pairs against the dollar has been absolutely crushed. Today appears to be a small correction. The price currently on 4 hour timeframe has continuously respected the 20 Ema and has approached and rejected today. Furthermore, the RSI remains in oversold conditions on the daily timeframe indicating a continuation of the downtrend. Client sentiment atm is net long which I usually take as a sign price may fall further. 5/1 R/R trade setup just waiting for some bearish candles to enter
Note
Price looking more bullish at the moment. No trade until rejection of ema. If it crosses - long until 0.63 mark
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