AUDUSD - Daily - Might take a few more days.
I think a 61.8% retracement would be ideal. We are balancing now around 50% and this could be an interesting spot for a small jump to the upside, but we've got this trend line still that could be an even better level for a bounce back up to the upside.
My target at the moment is 0.77783 (last year's November high). I understand that this is a tricky one, but could work out.
If you would like to take this SELL towards that level, then do so, but watch it carefully. Because if you'll start seeing reversal signals happening then I recommend to liquidate the trade straight away and maybe enter a SHORT position a bit later, depending on the market conditions.
As always, keep an eye on the price action!
My target at the moment is 0.77783 (last year's November high). I understand that this is a tricky one, but could work out.
If you would like to take this SELL towards that level, then do so, but watch it carefully. Because if you'll start seeing reversal signals happening then I recommend to liquidate the trade straight away and maybe enter a SHORT position a bit later, depending on the market conditions.
As always, keep an eye on the price action!