AUDUSD CONTINUES BEARISH TREND

20 Haz 2022

Price on AUDUSD has been in a bearish trend for some time now and as the saying goes " the trend is your friend until the nasty reversal". Following the trend we can see price made a bearish impulse from 0.72500 to 0.68500 breaking support at 0.70500. Last price tested the support now turned resistance forming a double top which is also in confluence with the 50% of the fib taken on the impulse. Upon the break and retest of the neckline of the pattern we can scale down to the lower TF to take a short with TP at 0.67500.