AUDUSD Institutional Short Setup!Good morning traders! This post is a few minutes late from the point of our entry, but we just entered into a short position on AUDUSD @ .7500. We have a very nice resistance level at .75080 that has kept the downside in check for roughly two weeks now. With no economic stimulants to justify breakout volatility, we are betting that this resistance will hold for the day at least.
The first real support below begins at around .7417, however there are clearly some bottoms that formed near .743. With the way that this pair has been trading over the past few weeks it is entirely possible to see a quick move down to the latter, but as always we will take whatever we can get. The goal is not to get greedy and to lock in profits.
Good luck to anyone who takes this trade!
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