AUDUSD: Short on Close Below 1.0575
Strategy: Pending Short
AUDUSD has put in a well-defined Bearish Engulfing candlestick pattern below resistance at 1.0829, the 61.8% Fibonacci retracement of the 5/2-5/5 decline, hinting the upward correction has run its course and a larger down move is ahead. We will look for confirmation on a daily close below 1.0575 to enter short.
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