Further AUD/USD Weakness

17 Ara 2015

Aussie carving out what I call "three steps" one lower than the other. After the rate announcement, price ticked up to recent "three steps" zone and that would be a good place to take the odds on if you had a bearish view of the Aussie. I waited for price to come back inside the trend line drawn from the top of the last "three steps" with stop loss just above the recent high.

Stop loss: 0.72900
1st Target: 0.71700 (Achieved)
2nd Target: 0.71100-0.70900 area