AUDUSD Institutional Short Setup

19 Dis 2016

Hello traders! Given the AUD weakness over the past few days we are only looking for selling opportunities. This .737 level as you can see is a nice area of institutional support turned resistance. You can see that institutional traders were previously buying every time price dipped into the level and then once the level was broken sellers came in on the backside of the level. If price pulls back into the level it could be a good place to get short with the trend. As always use a 30-40 pip stop loss and take whatever you can on the profit side. Good luck!