Mihai_Iacob

AudUsd to break under support

Short
OANDA:AUDUSD   Australian Dollar / U.S. Dollar
After the low made in mid-July, AudUsd has started to rise and managed to pass above 0.7 important figure.
However, bears quickly took control and the pair fell under 0.7 again, a new attempt from last week is also quickly reversed leaving a strong bearish engulfing candle formation at the end of last week. Also, in August PA is an H&S and now AudUsd is trading in its neck-line support.
I believe this support will also fall and the pair will dive to 0.67 next important one.
Sell rallies is my strategy for this pair with negation above last week's high

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