USDAUD price action weak, watch for a sell

Hi guys,

Watch this one for a sell.We have a strong Fibonacci retracement resistance ceiling, as well as major moving average resistance. Price is very weak from a technical stance and I am strongly expecting downside. This could be corrective downside, although we will soon find out if it could be impulse if it breaks previous structure support, perhaps one more bounce before the next big move down.

In light of this pair, it is worth watching AUDUSD for a buy setup.

Best regards,
Tom_Killick

Kommentera:

Price has pulled back slightly, we can use this opportunity to watch for a short on a lower time frame.

This one could be very profitable.