AUD/USD--- -Another commodity currency to SELL DOWN. ??

AUD/USD recovered up to 0.8550 Yesterday., since then it has resumed its down trend  being traded at 0.8450 right now.( Time for this posting)

Technically, AUD/USD should remain in the Bearish zone near term. Fundamentally, nothing will boost its currency in the horizon, It  may get worse due to the Shrinkage in her mineral exports to China,.Further fueled by downfall in the mineral prices.

Looking at the H4,  it shows that it may be a good Sell down Opportunity when it  retrace again to 0.8550-- 0.8570 ( 50% Fibo Retr, or near the top of Ichimoku cloud at 0.8580),

NOTE: On H4, you may spot that there may be a DOUBLE TOPS , breaking below 0.8300 will perfect its Pattern formation later..



Strategy


SELL ON RECOVERY NEAR 0.8550-0.8580


TARGET: 0.8300, FOLLOWED BY 0.8210


H4 Chart