AUDUSD Short Idea
Last week we saw price action push up toward our key resistance around 0.65000 which was consistent with a strong bullish 4 hour trend.
Now we are seeing a bit of rejection from this level which fits the very bearish daily trend as well as higher timeframe trends.
If we see a clear break of 0.64000 then we can consider short positions.
If the overall bearish trend starts to take over here we could see a large push to the downside toward our monthly support around 0.60200
Last week we saw price action push up toward our key resistance around 0.65000 which was consistent with a strong bullish 4 hour trend.
Now we are seeing a bit of rejection from this level which fits the very bearish daily trend as well as higher timeframe trends.
If we see a clear break of 0.64000 then we can consider short positions.
If the overall bearish trend starts to take over here we could see a large push to the downside toward our monthly support around 0.60200
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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.