AUDUSD - potential bearish daily Double Top points signals lower
​June's AUDUSD bounce has stalled, as expected from close to the 100 & 200 day average rates, but so far there is no sell signal which has left this week's signals cautious and neutral. However, with gains in Asia ending a small sequence of lower daily highs, Tuesday's signals turned to bullish. Contrary to these, the initial improvement attracted sellers for prices to close little changed on the day. A bearish Double Top may be forming at .7565, confirmed with a daily close below .7519. Until this is the case the outlook for Wednesday is initially cautious and is to stay square on the open and to sell the rally at .7560, yesterday's high with a stop loss at .7604, the 7 week top, or to sell down through .7499, the 7th June low with a stop loss at .7555. Targets below .7499 are to .7457, the 6th June base and .7414, last week's low trade.
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