AUD/USD Rising Wedge and Long-Term Channel Resistance

Aug 19, 2016

AUD/USD is incredibly close to the long-term resistance and profit potential is becoming limited for bulls. I'm looking to short soon once I can see a clear breakout from the rising wedge. Also, my price target will be .745 to .748, for I believe this will retest the 200 day moving average.
Key Points
- Rising Wedge (Bearish)
- Double Top (Bearish)
- Long-Term Channel Resistance (Bearish)
- MACD Crossover (Bearish)
- RSI (Neutral)

Aug 24, 2016

Trade active

Oct 4, 2016

Note

Took profits at .746 and looking to re-short for the next wave down.