AUDUSD - Short Preference

2020年5月3日

Similar to the EURAUD set up in the sense that we may be presented with multiple options on the pair but again the bias has to lean towards the short on this occasion. 0.6380 looks to be the best entry for a continuation of the current downside momentum as this will see us clear all previous levels and give us a clear run at 0.6320, we may also have a chance to enter a little higher as there is a chance price will climb to establish some resistance early in the week around 0.6450 again targeting 0.6320 as it is here that we will see a clear indication of where the pair is going to head on its next leg as a break of this will see a decline in price down to 0.6200 and possibly as low as 0.6000. however, a bounce in price and signs of buyers taking back control may well see a climb to 0.6700 so as we mentioned there are options available to us, we just need the pair to show us which it will be.