Bearish signals confirmed for AUDUSD
Bearish signals for last week, and in each of the last four trading days, have been confirmed, as investors sold the market to post five lower daily highs in a row and a loss of just over one and a quarter Big Figs.
Management and risk description
Sell modestly at market, with a preference to sell the rally. Lower your stop to entry if the first target is met.
Entry: market and 0.7543, the 13-day average rate.
Stop: 0.7677, July's high.
Target: 0.7322, the 3-week low, and 0.7149, just above May's base.
Time horizon: this week.