Short

AUDUSD moving lower - 0.6200 target

Updated

Trend: LSMA moving lower for 3+ weeks, pattern of Lower Highs and Lower Lows

Momentum: Moved to Neutral as price retraces the selloff

Japanese Candles: An imperfect Shooting Star is developing

Chart Pattern: Bearish Channel

Support and Resistance: 0.6675 is Support, 0.6400 is Resistance.

Fundamentals: Aussie Retail Sales on Wednesday

Trade: Open Short 3/24/24 @ 0.6511
Stop: 0.6675 Target: 0.6200

Note

It's a Weekly Doji now - let's see what Friday holds

Note

Last week placed a Shooting Star at the upper downsloping channel line. So far this week is a Doji. U.S. CPI this week is likely to move this pair.

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