AUD/USD: Our expectations: The movement remains short, as the current correction gives us good levels for short positions. Possible short with SL: 0.7526
Alternative scenario: if the price goes above 0.7518 it will spoil this negative formation, where we can start looking for a new long.
Commentary: Mid-termed declining movement.
Price under 50 EMA.
Possible "double top" activated as the price wend under 0.7443
Price under horizontal support levels of 0.7454
CCI(50) under 0 - negative formation
Breakaway under 0.7454, test of the breach and possible new declining movement - classic bearish formation.
Stefan D. Angelov - Head of Stocks Trading
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