AUDUSD Short
Updated
AUDUSDLooks overbought and can make quick 20-25 pips profit.
- Technical outlook indicates that the movement overstretched in intraday charts, as indicators are in extreme overbought territory,
- However above 0.7524, December high and presents an immediate resistance
- In the 4 hours chart, the price is far above a bullish 20 SMA, the RSI heading north at 77, although the Momentum also slightly presents a strong upward slope in multi-month highs, supporting the bullish breakout, it indicates oversold.
- Having said this, the Fed Chair Yellen's Speech shortly could trigger unknown further up/down movement
As usual I'm in for 20-25 pip profit. Ride with me!
Trade closed: target reached
Target reached and closed.Hope you guys made some good pips on this trade
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