AUD USD is moving in a rising channel from June 12, and it has recently touched the top resistance of the channel, and bounced back from there.
My strategy would be to short the pair until the lower support of the channel and go long from there once again.
Let me know what do you think about my strategy
Shouldnt you be short already say at the top of the channel? I’m looking to go long around the 50 shown on my chart…
Its a fair analysis becoz at the moment the pair is trading on the 21EMA which would be a good entry point when it breaks below that. My take profit is at .2000 which is around the 200EMA. I would then look out for a bounce or a break at the 200EMA b4 i mke a decision.
I was a bear the whole day on Friday 
I don’t keep my trades open for the weekend, so I will short again.
And yes 50% seems like a good support level
You may have to wait for the PPI and the CPI released by the Australia,i suggest you to close your trades right before the released of these news.
I have it in my mind, I was planning to close the trades by then 
Look AUD/USD moved upward instead of following bad CPI figures.
Yes. After hitting the support of channel line
