Daniel Ang

Selling Opportunities in AUD/USD - #1 Sold @ 0.69379 Wed, Feb 15, 11:48am.

Chart AUDUSD, H4, 2023.02.15 03:53 UTC, Blueberry Markets Pty Ltd, MetaTrader 4, Real

AUD/USD attempted to rally last night right after the US CPI report was released but prices was rejected at 0.7028. This morning saw continued weakness. If price falls below the immediate support line (see chart) and 0.6854 fails to hold, AUD/USD may extend its fall towards 0.6735.

This level is the 78,6% retracement of 0.6629 to 0.7157. It is also just above the equality distance of 0.7157 to 0.6855 from 0.7028 at 0.6726. Seen from this perspective, selling appears to be offer the best odds.

TRADE IDEAS

#1 Sold @ 0.69379 Wed, Feb 15, 11:48am. 

#2 Sell Limit @ 0.6970.

Stop @ 0.7035

Target @ 0.6735