My View on AUDUSD

6 gru 2016

I am looking for 2 setups , if the price breaks the 38.2% retracement of the last significant leg down at 0.7488 and the level becomes support I will look to go LONG until the next significant resistance level (Red Boxes) which is around 0.7550 and from there look for SHORT .If the price gets rejected again at the current levels (Look for price action and candlestick patterns ) I will go short at 0.7480 level.Target price at 0.7200