AUDUSD Bulls Fight to Keep Rally Alive

For those who are already short based on the Friday pin bar, a daily close (5 pm EST) below this trend line near 0.7960 could offer a chance to add to your position. It could also provide a favorable selling opportunity to those who are still on the sideline.

A daily close below this trend line support would expose the August low at 0.7820. A close below that would pave the way for a move toward 0.7730 and perhaps 0.7635.

Alternatively, a daily close above the 0.8065 handle would negate the bearish outlook and expose last week’s high of 0.8124.