AUD/USD A SHORT RANGE ENTRY WITHIN THE DOWNTREND [1HR]

1 thg 6, 2016

A short range setup at the .73500-.73650 zone congruent with the previous resistance zone back at 5/17. 50 EMA crossed 200 EMA and now the 100 EMA is about to do the same; indicating in a slight bullish bias towards the upper resistance zone. The EMAs should act as dynamic support to complete the range. Stop loss is set at .74000 and take profit is shown at the zone below at .71650-.71500 area.