AUDUSD: Rising Wedge pattern broken | January 25, 2017

Audusd has formed rising wedge pattern which has been broken today with a big bearish candle. It indicates sellers are active now to take control over this pair. We should look for sell entry on this pair.
Below 0.7600 level, we should stay on sell mode. This pair can fall anytime. So buyers should be careful for taking buy here. If break 0.7600 level, then we can stay on buy mode again, otherwise, it is better to look for sell here.

Sell trade setup
✍ Below 0.7600 level, if we find any bearish candle on H1, H4, we can take sell position.
✍ 0.7560-70 level can be near term sell level for this pair.
✍ SL will be above 0.7600 level.
✍ TP will be 30-100 pips.
✍ If you get 30 pips profit, then close 50% position of your trade and move your SL on the entry point.

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