AU is currently being rejected around 61.8% fib (of .985-.625) at around .8480
If this point holds there is potential for a lot of down side
Personally i am targeting .7700 and beyond.
If .8500 is blown off then upside will also be big, but September i'm shorting this pair if it remains below .8500( although it might overshoot a bit due to volatility)
For those who are not as aggressive look out for a daily candle close below .8300 to confirm a top is in place and enter short
If this point holds there is potential for a lot of down side
Personally i am targeting .7700 and beyond.
If .8500 is blown off then upside will also be big, but September i'm shorting this pair if it remains below .8500( although it might overshoot a bit due to volatility)
For those who are not as aggressive look out for a daily candle close below .8300 to confirm a top is in place and enter short
Some drink at the fountain of knowledge. Others just gargle !