AUDUSD Short Idea
Overall price action on higher time-frames has been bearish and we are looking to short upon proper confirmation at the current level
Current price action is at the daily 50% fib level as well as a major daily resistance around 0.688
Ideally rejection from this level in the form of strong bearish signals would be enough confirmation to short
Also this looks to be forming a daily double top pattern which would suggest the bears are still in control
We will look to target toward the -27.2% daily fib around 0.656 followed by a second target near our weekly support and -61.8% fib around 0.64250
Overall price action on higher time-frames has been bearish and we are looking to short upon proper confirmation at the current level
Current price action is at the daily 50% fib level as well as a major daily resistance around 0.688
Ideally rejection from this level in the form of strong bearish signals would be enough confirmation to short
Also this looks to be forming a daily double top pattern which would suggest the bears are still in control
We will look to target toward the -27.2% daily fib around 0.656 followed by a second target near our weekly support and -61.8% fib around 0.64250