AUD/USD dropped after the Reserve Bank of Australia lowered its inflation views in its statement of Monetary Policy. The pair is coming into historical 50% Fibonacci level, another indication of an over-sold pair is the RSI which is located at 30 number area.
Entry is at 0.73250 with the 4hr close being above the entry number. If the 4hr candle closes I will then exit the trade as that will indicate a further decline. Profit is at 100 pips (0.74250)
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