AUD/USD Trading Analysis (17/09/2024)

Bears are testing the mirror level at 0.6755. The ascending wave structures are truncated. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the overbought condition.

Trading idea:

• Sell when the formation of the descending wave structure begins, when the wave A breaches the sloping channel of the ascending truncated structure.
• Stop-loss at 0.6755 (over the local maximum of the ascending structure).
• Price targets at 0.6692 and 0.6650.     

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