AUDUSD Short Opportunity
For the last few weeks we have seen this pair turn very bearish and now we are seeing what looks like a key retracement.
We are currently at the daily 61.8% fib level and key resistance around 0.62000.
From this level I am looking for a lower timeframe transition and break of support followed by a retest with strong bearish confirmations.
In that scenario it would be plenty of confirmation to then short and target lower.
Look to short toward lower support levels around 0.59500 and the monthly support around 0.58000
For the last few weeks we have seen this pair turn very bearish and now we are seeing what looks like a key retracement.
We are currently at the daily 61.8% fib level and key resistance around 0.62000.
From this level I am looking for a lower timeframe transition and break of support followed by a retest with strong bearish confirmations.
In that scenario it would be plenty of confirmation to then short and target lower.
Look to short toward lower support levels around 0.59500 and the monthly support around 0.58000