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IkanBilisCapital

AUDUSD played out just as we expected!

Long
Dollaro australiano / Dollaro (FX:AUDUSD)  
IkanBilisCapital  
FX:AUDUSD   Dollaro australiano / Dollaro
Trend Analysis Chart Patterns Technical Indicators AUDUSD audusdshort audusdlong audusdforecast audusdsignal audusdanalysis audusdsell audusddaily
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trendanalysis chartpattern indicator audusd audusdshort audusdlong audusdforecast audusdsignal audusdanalysis audusdsell audusddaily
The pair dump farther down this week after breaking out of the channel structure it was trading in. It is at a point where consolidation could happen before more downside.

BULL CASE
I think it is likely we see some consolidation at these levels before more downside. If this happens, 0.71680 is a good level to short again with controlled risk.

BEAR CASE
If price continues the dump next week to the 0.7038 levels, expect to see strong support. It will be a wick out kind of move on the weekly.
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