Nice AUDUSD Short!
This is a very nice place to go short for many reasons:
The price broke the short-term up trend.
Two Major resistances that the price was not able to break either of them. The Major daily down trend & 0.5 Fibonacci level. So the it will go at least to the next Fibo. level (as well as the previous structure high) which is around 0.7250.
The there is a possibility to go up to test 0.382 Fibo. level at around 0.7300 or even higher to retest the major down trend.
if resistence levels are strong enough, we might see a fall to 0.716
The price broke the short-term up trend.
Two Major resistances that the price was not able to break either of them. The Major daily down trend & 0.5 Fibonacci level. So the it will go at least to the next Fibo. level (as well as the previous structure high) which is around 0.7250.
The there is a possibility to go up to test 0.382 Fibo. level at around 0.7300 or even higher to retest the major down trend.
if resistence levels are strong enough, we might see a fall to 0.716
Penafian
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