AUDUSD was in an uptrend since approx the beginning of the year. In May the pair failed to make a new high and since then began a range, which broke the trendline. The new recent high made at the beginning of July looked to restart the trend, but instead signaled bearish divergence, as the the RSI failed to make a new high as well.
I am waiting on a little pull back to the .9350 area which has a little resistance on the 4hr chart, before entering short. with a stop above the recent July high, and an initial profit target at .9133. If price manages to break the .9200 support level, it should fall fast to the .9133 point fast.
comments and criticism welcome
I am waiting on a little pull back to the .9350 area which has a little resistance on the 4hr chart, before entering short. with a stop above the recent July high, and an initial profit target at .9133. If price manages to break the .9200 support level, it should fall fast to the .9133 point fast.
comments and criticism welcome