AudUsd - Downtrend Still Intact

19 nov 2017

Last week AudUsd performed nicely taking out both targets from last week. We go into next week with the downtrend still intact and therefore further declines seen as the higher probability move. Price is re-testing broken support as resistance at 0.75715 providing a great place for the Bears to look for Shorting opportunities down towards the target and next key area of support at 0.74888. A deeper correction and re-test of the 0.76274 area of resistance would also provides a great potential shorting opportunity.