DislikedBack on topic of the AUD/USD.
For those bearish on the AUD (I am bullish, but we can't all be bullish. ), this is as good a time as any to short for a first target of the blue line as seen on the chart attached, keeping a core position for a break, retest and close below the blue line.
The reason I'm saying this because your stop can be placed very comfortably on a close above the 100 day moving average and the blue line above which should negate any short term bearish views. And we have bounced off this level quite a number of times...Ignored
Price has bounced off the blue resistance zone and the 100 day moving average.
With me being AUD bullish, I will be looking to build my positions as it gets closer to the blue demand zone.
Chart attached.