AUDUSD Projections week of 8/12

AUDUSD

Although the massive bear trend looks to be losing steam, it doesn't seem as though it's ready to end. If you're a candlestick trader your long entry on the retracement may have already passed, or it's right around a second chance entry level. The resistance zone is my projection for max pullback before the continue downward. Look for short opportunities near the strong price level in black, or near the resistance zone if it can make it that far.