AUDUSD Price Testing Major Resistance Again

Trade Idea: Bearish Reversal


Price has attempted to move above the resistance level (indicated as the red line) for almost a month now. Now that price is back at final resistance level , look for a potential reversal to the downside. 

Trade Step-up: Short

Scenario One: Price rejects a move higher, bears take over. Target price is .7050 & .6950. 

Scenario Two: Price breaks current resistance level to test the final resistance level before a true reversal occurs. Target price is the same

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