It´s hard to say if the Aussie is accumulating at resistance level 0.9250 to form a major Trade Range (from 0.9325 to 0.8580) or if this resistance level will hold all bull attempts to push prices higher, thus triggering a new major Bearish Trend.
As prices are forming lower highs on dailies (see bearish trendline on chart attached) my strategy is to enter SHORT at the following levels:
* SHORT at break of 0.9170 with STOP at 0.9215 and LIMIT at 0.9130
* SHORT at break of 0.9130 with STOP 0.9150 and LIMIT 0.9070
* SHORT at break of 0.9060 with STOP at 0.9095 and LIMIT at 0.9010
Below 0.9000 I´ll add higher lots with tight stops and with limit at 0.8810
As prices are forming lower highs on dailies (see bearish trendline on chart attached) my strategy is to enter SHORT at the following levels:
* SHORT at break of 0.9170 with STOP at 0.9215 and LIMIT at 0.9130
* SHORT at break of 0.9130 with STOP 0.9150 and LIMIT 0.9070
* SHORT at break of 0.9060 with STOP at 0.9095 and LIMIT at 0.9010
Below 0.9000 I´ll add higher lots with tight stops and with limit at 0.8810
