BEAR pressure building on AUDUSD
AUDUSD - Last week I recommended BUYING this market at open (.7572) and we are now at .7725.
Price has now pushed well into a solid resistance zone and although further gains cannot be ruled out and the RSI suggests we have scope to go higher, the market may be ready to stall out.
The last H4 candle was a shooting star/hammer bearish reversal and we could be seeing a reversal start.
Trade idea.
No LONG trades from these levels
Under .77 is probably a SHORT trade.
Price has now pushed well into a solid resistance zone and although further gains cannot be ruled out and the RSI suggests we have scope to go higher, the market may be ready to stall out.
The last H4 candle was a shooting star/hammer bearish reversal and we could be seeing a reversal start.
Trade idea.
No LONG trades from these levels
Under .77 is probably a SHORT trade.
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