thedailychartist

AUDUSD potential wedge top to break lower to target 0.7223?

FX:AUDUSD   澳元/美元
Currently still testing resistance at 0.7385. Pair may be looking at 0.7223 as a possible price magnet so watching out for a break lower (0.7325) as I indicated in a related post (see link below). This is a short-term setup as I am still bullish overall, especially if market breaks 0.7385-0.7400 on a daily closing level. Alternatively, waiting for a buy setup at 0.7325 is also reasonable rather than shorting.

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Here's how the 4HR chart is looking:


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