AUDUSD Short Idea
On par with the analysis last week AU dropped after a double top formation, confirming rejection of the monthly zone around 0.68500-0.68800
Recent price action this week already has found some minor support around our moving averages, so this may give us another potential opportunity to enter on a lower high/more confirmation
Look for strong bearish rejection around the current level, long wicks, bearish engulfing patterns etc before dropping down timeframes for a precise entry
We are still targeting the -27% around 0.65666
On par with the analysis last week AU dropped after a double top formation, confirming rejection of the monthly zone around 0.68500-0.68800
Recent price action this week already has found some minor support around our moving averages, so this may give us another potential opportunity to enter on a lower high/more confirmation
Look for strong bearish rejection around the current level, long wicks, bearish engulfing patterns etc before dropping down timeframes for a precise entry
We are still targeting the -27% around 0.65666
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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.