AUDUSD: Short Sell Idea
Here we have seen since several weeks that AUD/USD ranges around 20 sma and taking the support it jumps up. However, observing the last few candles, it is observed that volume is high on bearish candles relative to the volume on bullish candles. Right now, the price is around 20 sma and if clearly broken, we expect the fall towards 7900 followed by 7850 and 7800.
Daily chart chart has also shown an upthrust confirming the failed effort of breaking and staying above 8000. As long as it remains below 8000, most likely it will fall sharply. However, it must be viewed in the context of DXY which is currently decisive factor for direction in major pairs these days.
Daily chart chart has also shown an upthrust confirming the failed effort of breaking and staying above 8000. As long as it remains below 8000, most likely it will fall sharply. However, it must be viewed in the context of DXY which is currently decisive factor for direction in major pairs these days.
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Now the pair has clearly broken 20 sma support on h4 with high volume and most likely the pair is heading towards 7900 and lower around 7700