[11/12] Short AUD/USD with 200 D's MAL
Updated
- 1/ The AUD/USD has just tested the Resistance of 200 day's Moving Average Line which is also the 61.8% Fibo's Retracement. 0.7100 was a previous support position and became a resistance since it had been broken on Jan 6.
- 2/ The MACD gives a over-buying value on 4hour's chart.
- 2/ Suggest try short it at current price:
Open 0.70825
Stop 0.715
TP 0.694
Risk/Reward Ratio:2.09
Note
Although the price is still restricted by 200 day's MA and 61.8% Fibo Retracement, it still couldn't break the first challenging support of 0.704 which is also the 76.4% Fibo Retracement.Keep an eye on it.
0.71058(61.8%) is the point for the price to reach 0.7200, and the 0.704(76.4%) is a door to 0.6935.(100%)
Note
Finally broke the first support and heading to first target.
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