AUD/USD - TESTING THE 3-MONTH FALLING TRENDLINE
AUDUSD
AUD/USD DAILY
The rate broke the gap resistance yesterday and is now testing the 3-month falling trendline and former support level at 0.7330.
It came within 10 pips of stop loss, but I am still holding the positions and will be looking to scale in the trade.
My bias is still lower, however I am will be waiting for today's NFP figures before entering any new short positions.
A break above the trendline and yesterday's high at 0.7356 would invalidate my immediate bearish bias, but only to wait for a deeper pullback towards the broken channel around 0.7500 to sell from better prices.
