Fundamental Resistance Bounce Setup
I have been watching AUDUSD carefully!
I waited until the price had reached the resistance level 0.7400 before entering into a short position.
I have set my target at the market floor, however, potential smaller gains at levels 0.7265 and 0.7149.
Price has bounced off the 0.74 resistance level and seems to be within a current period of consolidation.
I will keep my eyes peeled and hope for a further drop in this pair.
Good luck and happy trading!
I waited until the price had reached the resistance level 0.7400 before entering into a short position.
I have set my target at the market floor, however, potential smaller gains at levels 0.7265 and 0.7149.
Price has bounced off the 0.74 resistance level and seems to be within a current period of consolidation.
I will keep my eyes peeled and hope for a further drop in this pair.
Good luck and happy trading!