AUD/USD at Risk Below 200 Day Average
FOREXAnalysis: The AUDUSD is sloooowly trending lower. Each drop is followed quickly by congestion with the net result being a grind lower. Keep in mind recent comments that “it’s possible that this is the beginning of the larger AUDUSD triangle E wave towards 9800-9900. The most aggressive AUDUSD target is 9700. This objective is reached by extending the 10148-10598 range from 10148 (10148 needs to break first of course).” Weakness may accelerate with price below the 200 day average.
FOREXTrading Strategy: Risk on shorts is moved down to Friday’s 10340 high.
LEVELS: 10080 10148 10192 10260 10292 10340