Quick Short, followed by retrace and then a test of the lows!

The AUDUSD in tremendous form broke the wedge and is now playing suit to the pattern I observed some weeks ago. Profit taking may begin this week at the 23.6% Fib area and I would expect a retrace before a further resumption of the downside.

To play this, if you're in a sell trade be mindful of the 23.6 area and potentially counter trend trade up to the nearest missed weekly pivot above price as I speak. Then take profits near the 38.2% area and resume the shorts to test the lows made back early this year!

For more info please follow me, on twitter or sign up to my website: www.ejfxtrading.com