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AUDUSD: Short Setup Eyed Below 1.00

AUDUSD: Short Setup Eyed Below 1.00

2011-03-18 09:35:00
Ilya Spivak, Sr. Currency Strategist
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Strategy: Pending Short

As we suspected, AUDUSD recovered from support near the 0.98 figure toward resistance at 0.9943. We see the move higher as corrective given the larger bearish theme after the break of rising trend line support set from early January and will look for it to produce a selling opportunityover the coming days.

AUDUSD_Sell_Entry_Sought_Below_1.00_body_031711_AUD.png, AUDUSD: Short Setup Eyed Below 1.00

To discuss these strategies with other traders, please visit the Candlestick Forum

To receive future articles by email, please contact Ilya at ispivak@dailyfx.com

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