AUD/USD - SHORT
Ok I know theres a lot of retail traders out there waiting to get in on this pair for the next move down these are my views on it at the moment ive got a scenario for a long idea also but i see it going short too at least 0.7200 for now...
Note: Blue areas of support/resistance are Monthly
Purple areas of support/resistance are Weekly
Monthly
Weekly
A break and close below 0.76000 i believe will lead down to the 0.72500 region where we have that HUGE monthly trendline
Daily
Note: Blue areas of support/resistance are Monthly
Purple areas of support/resistance are Weekly
Monthly
- MA's Bearish
- March' candle finished as a shooting star off of support turned resistance
Weekly
- Evening star formation (last 3 weeks of March)
- MA's Bearish
- Gravestone doji off resistance
- Support broken & retesting
- Hanging man followed by spinning top showing indecision at the moment
A break and close below 0.76000 i believe will lead down to the 0.72500 region where we have that HUGE monthly trendline
Daily
- Rejected off of the 0.50 fib level drawn from the previous Lower High
- The -61 Fib extension from this fib also lines up with support for an added confluence
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