AUDUSD POSSIBLE SETUPS

We do not like to take un-calculated risks. The analysis really speaks for itself. However, we can possibly see a retest of the broken trendline (red trendline) and a continuation to the upside where we have our Daily/Weekly resistance zone. We can take short position from that position to our downside target of 0.7600 then 0.7545 around 180-210 pips. We can also take a long position on the retest of the trendline if bullish PA is presented.

We can take the risk and enter a short position from current price but we have the risk of price reaching the daily/weekly resistance zone. However, we have placed a short position below 0.76100 just in case price does not extend further. We trap the trade. We do not chase them.

***TRADE AT OWN RISK***