AUDUSD - One more bearish leg?

PAIR IN FOCUS: AUDUSD
ACTION: SHORT
HORIZON: SHORT TO MEDIUM-TERM

Price is currently in a rising wedge pattern and looks to retest the upper bound again. As part of a trend exhaustion strategy, we can look for low risk SHORT opportunities at the Entry Zone. Watch for bearish price action in the Entry Zone before any entry. On the weekly time frame, price seems to breakout from a falling channel. This could be the last bearish leg before that break upwards. Should price rocket through the EZ, this set-up will be invalid.

The TP levels and Stop Loss are indicated on the chart. Remember to manage your risk!

Feel free to discuss and comment, Cheers!

Free Telegram channel for FX Ideas -- https://t.me/tradermozo