Fundamental Resistance Bounce Setup
I have been watching AUDUSD carefully!
I waited until the price had reached the resistance level 0.7400 before entering into a short position.
I have set my target at the market floor, however, potential smaller gains at levels 0.7265 and 0.7149.
Price has bounced off the 0.74 resistance level and seems to be within a current period of consolidation.
I will keep my eyes peeled and hope for a further drop in this pair.
Good luck and happy trading!
I waited until the price had reached the resistance level 0.7400 before entering into a short position.
I have set my target at the market floor, however, potential smaller gains at levels 0.7265 and 0.7149.
Price has bounced off the 0.74 resistance level and seems to be within a current period of consolidation.
I will keep my eyes peeled and hope for a further drop in this pair.
Good luck and happy trading!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.