AUDUSD: Re-Shorting technical Trade for 130 pips

Too many technical things lining up to not take this short.

Pros:
(1) Past support now future resistance.
(2) Price move up is not as strong as the move going down so far.
(3) Pulled back up 50% to 62% already with some reluctance so far.
(4) At the sell-side of the channel.

Cons:
The 200 moving average acted like some kind of temporary support after horizontal support was breached.

Conclusion:
The bearish sentiment still outweighs the bullish sentiment.


I am not betting the house on this one, but just risking about $25 to make $50. That's about it.

Target date of profit objective is March 15 or 16, 2017.

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