We entered short AUD/USD after prices put in a bearish Evening Star candle formation, hinting the currency may be carving out a top in the 0.9051-85 area against its US counterpart (marked by the
Prices are attempting to make downside progress but follow-through has been limited thus far. We will remain short for now, initially looking for a daily close below the 14.6% Fibonacci expansion at 0.8919. If that materializes, we will aim for the next objective at 0.8821, marked by the 23.6% level. A stop-loss will be activated on a close above 0.9085.