AUDUSD has reached a key level, where bears could find as an opportunity to enter SELLS.
I'm looking at price action around 0.71350 - 0.71400 area. Please don't rush to sell! Make sure you see confirmation around this level and then you can confidently start opening your short positions!
The pair also looks overbought from RSI perspective!
I think it has got potential to go down towards 0.68000 area, which would bring a nice profit.
STOP LOSS should be placed above 0.72100. A daily close above this area would negate the bearish scenario.
Let me know your thoughts.
Thanks,
Gaspar_Trader
I'm looking at price action around 0.71350 - 0.71400 area. Please don't rush to sell! Make sure you see confirmation around this level and then you can confidently start opening your short positions!
The pair also looks overbought from RSI perspective!
I think it has got potential to go down towards 0.68000 area, which would bring a nice profit.
STOP LOSS should be placed above 0.72100. A daily close above this area would negate the bearish scenario.
Let me know your thoughts.
Thanks,
Gaspar_Trader
L.G
