AUDUSD Risk of more downside
We have seen price traded strongly to the downside in the past weeks, 0.7500 was the price for the long term up and down position we have taken in this pair. The current level price is trading at is really low for what was expected, however price action suggest a breakdown below 0.7100 will open further slide in the pair.
We are short AUDUSD from 0.7110, stop loss at 0.7130.
Below 0.7100, we will first target 0.7080 and 0.7055 for extension.
We are short AUDUSD from 0.7110, stop loss at 0.7130.
Below 0.7100, we will first target 0.7080 and 0.7055 for extension.
Trade active
Trade closed: stop reached
Aussie has the mind of its own. did not hit our first target before reversing.One of those ones
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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.