AUDUSD 4hour Analysis 5/17/20
AUDUSD Short Idea
This pair played out exactly as expected last week. We saw rejection from a key weekly resistance zone in the form of a double top and then saw lower timeframe transitions.
This gave us the confirmation to enter short and target our next major support level around 0.64000
From this level we want to see this bearish transition continue and play into the overall daily bearish trend. This could be a huge move!
Upon similar transition confirmations look to enter short and target lower toward major support levels.
This pair played out exactly as expected last week. We saw rejection from a key weekly resistance zone in the form of a double top and then saw lower timeframe transitions.
This gave us the confirmation to enter short and target our next major support level around 0.64000
From this level we want to see this bearish transition continue and play into the overall daily bearish trend. This could be a huge move!
Upon similar transition confirmations look to enter short and target lower toward major support levels.
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