AUD/USD: a short-term idea

AUD/USD: a short-term idea

2019-11-11 • Updated

Trade idea

SELL 0.7220; TP 0.7170; SL 0.7235

AUD/USD has met the resistance of the 200-day MA at 0.73. Friday’s candlestick has almost engulfed the previous one. Daily MAs are horizontal and so far they haven’t supported the recent move upwards. As a result, correction down to the 50- and 100-day MAs at 0.7170 is possible if the pair slides below the short-term support at 0.7220. The advance above 0.73 is needed to open the way up to 0.7390. 

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