Trade idea: Sell Aussie at 0.76900 by Reece Marini

AUDUSD H4

AU4

The Aussie has continued to sell off since the bears were seen selling into the 1:1 (Light blue) and 38.2 fib at 0.78750/800, momentum has picked up on the downside today with the Employment Change and Unemployment Rate missing expectations.

AUDUSD M15

AU15

I will be looking to sell into strength on the 1:1 (Light blue) and 23.6 fib at 0.76900 with a tight stop at 0.77050. My first target will be the days low at 0.76430, if momentum picks up on the break of this low I will look to target 0.75000.

* A 1:1 refers to a current correction being equal in length to a prior correction

ABOUT REECE MARINI

Reece Marini is an FX trader and Director of the http://forexhft.com an instant Forex rebate and Signal provider, if you would like to subscribe to our daily reports you can do so here its FREE

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