SO AFTER MUCH CONSOLIDATION AND NOTHING REALLY HAPPENING WITH THIS PAIR WE HAVE FINALLY HAD SOME MOVEMENT WHICH HAS LED US TO BREAK TO THE DOWNSIDE.
DOWNSIDE WAS ALWAYS FAVOURED GIVEN THE LONG TERM BEARISH TREND OF THIS PAIR BUT CONFIRMATION WAS STILL NEEDED. AS YOU CAN SEE TARGET IS SET AT 0.7300. OUR FIB EXTENSION GIVES US 0.7260 BUT GIVEN THAT THE AUSSIE LIKES ROUND NUMBERS I WILL SET ANY TP'S AT 7300 TO BE SURE.
DOWNSIDE WAS ALWAYS FAVOURED GIVEN THE LONG TERM BEARISH TREND OF THIS PAIR BUT CONFIRMATION WAS STILL NEEDED. AS YOU CAN SEE TARGET IS SET AT 0.7300. OUR FIB EXTENSION GIVES US 0.7260 BUT GIVEN THAT THE AUSSIE LIKES ROUND NUMBERS I WILL SET ANY TP'S AT 7300 TO BE SURE.