AUDUSD has been consolidating in an upwards bearish flag for the past year and could be looking to break below the flag to complete the pattern.The pair has recently tested the 200 ema on the weekly and daily.
I will be shorting immediately when the markets open setting my first TP 0.75600. According to price action that's a very important priceline so i need to protect profits and wait on for a minor consolidation to playout which should confirm a bearish continuation or reversal.
If all goes well and a breakout out candle shoots straight through the box,i will be considering a short position but after a pullback testing the 0.75402 price line holds.
I will be shorting immediately when the markets open setting my first TP 0.75600. According to price action that's a very important priceline so i need to protect profits and wait on for a minor consolidation to playout which should confirm a bearish continuation or reversal.
If all goes well and a breakout out candle shoots straight through the box,i will be considering a short position but after a pullback testing the 0.75402 price line holds.