STOP/ENTRY/TP-AUDUSD-SHORT (1.7%)

Weekly high test.

AUD hasn't had a good pull back against USD

COVID lockdown in Victoria and Border closures with QLD (Brisbane) and NSW ( Sydney). Huge hit to economy.

4HR/1HR - Im only looking to make small trades.

FIB retrace on the 1 hour. I would like that move slightly higher before the move lower. This giving a better value entry and affords that STOP more protection.

Ideally the Stop would be above the extreme highs, but I see the lower level as a point which will offer resistance assisting the move to TARGET.