AUDUSD: In Bearish Breakout Mode
- AUDUSD has completed a bearish breakout below key support levels
-Break below 0.9200 main horizontal support
-Break below 200-days long term moving average
-Break below support of the short term bearish channel
-Today'retest of 0.9200 was strongly rejected
Next main target and potential support is at 0.9080, which is a previous neckline for an inverted head and shoulders, and also the 50-percent retracement level for the overall bullish trend. Further downside targets at 0.8980 and 0.88880. My risk limit on this trade is a daily closing above 0.9255.
Best of Luck , join me at twitter.com/thefxchannel
Also at my Facebook page thefxchannel.com
My best regards,
Technician
-Break below 0.9200 main horizontal support
-Break below 200-days long term moving average
-Break below support of the short term bearish channel
-Today'retest of 0.9200 was strongly rejected
Next main target and potential support is at 0.9080, which is a previous neckline for an inverted head and shoulders, and also the 50-percent retracement level for the overall bullish trend. Further downside targets at 0.8980 and 0.88880. My risk limit on this trade is a daily closing above 0.9255.
Best of Luck , join me at twitter.com/thefxchannel
Also at my Facebook page thefxchannel.com
My best regards,
Technician
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