61.8% Retracement for AUDUSD
Looks like a good old retracement to the 61.8.
Similar to the previous leg.
Monthly Kumo breakout so we're deep in a bearish trend overall. with price head for a monthly trend line 300 or so pips away.
Price should repeat the inner TL unless we see a break out the heading for the outer TL.
RSI positive divergence confirms the long sentiment, however, seeing as we're in a bearish trend, recommendation is to look for short entries.
Similar to the previous leg.
Monthly Kumo breakout so we're deep in a bearish trend overall. with price head for a monthly trend line 300 or so pips away.
Price should repeat the inner TL unless we see a break out the heading for the outer TL.
RSI positive divergence confirms the long sentiment, however, seeing as we're in a bearish trend, recommendation is to look for short entries.
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