#AUDUSD [MNC] Are we retesting a breakout zone?!

OANDA:AUDUSD

I see #AUDUSD as an important pair at the moment as it is retesting a significant breakout zone, price went down to retest 2 vital points. the breakout zone and the big monthly demand zone @ 0.68470

When i see similar breakouts i pay much attention to the price where it should fade. in this situation i can see a retest of the demand as well which adds a lot of credit to the LONG theory.

I will be going long this pair as the risk is limited to the expected reward.

Setup is cancelled if price would sink below 0.68230

Important note to mention that Speculators have cut 15k shorts compared to the week before. From 79,312 longs on 7th January till 64,318 long contracts on 14th January!

Trade it on your own risk.

#AHMEDMESBAH