AUDUSD | Preparing to melt?

May 12, 2020

This pair has formed a double top and started to drop aggressively with big bearish candles. It has also broken a ascending trendline and currently doing a retest.

Additionally, it did also break a Support level and currently is retesting it as a Resistance level. If AUDUSD fails to break back above, then we can expect further downside movement.

Watch the pair closely and only sell when you see a clear bearish candle close below the current resistance level.

Fundamentals to look out for during the week.
1) USD CPI m/m (Tue)
2) USD Core CPI m/m (Tue)
3) AUD Employment Change (Thu)
4) AUD Unemployment Rate (Thu)
5) USD Core Retail Sales m/m (Fri)
6) USD Retail Sales m/m (Fri)

Risk ONLY: 2-3%

Good Luck

May 12, 2020

Trade active

Entering here manually

May 12, 2020

Trade closed: stop reached