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Without any major economic reports coming out tomorrow, I’m looking to enter a couple of short plays on the AUS/USD, and to catch what seems to be a short term downtrend. It looks like the pair stalled at the 0.7600 level. I’d like to see a small relief rally before I jump in short to jump in at a great price. I drew a fibonnaci retracement and pivot points to check which area of resistance would be a great entry point. So, here it goes:
Short AUD/USD at 0.7640, stop at 0.7660, pt1 at 0.7620, pt2 at 0.7600

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