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AUDUSD Breakout Of Support - More Downside? Feb 6th

Hello Traders,

After a really choppy start to this month, the AUDUSD has finally taken out a key support level in 1.0357, which it broke through on an impulsive leg down. The pair found support and some buyers at the round number of 1.0300, but i'm not really convinced by the small back to back pin bars.

I'll look for a corrective pullback setup towards the role reversal level at 1.0357, along with a 20ema on the 4hr chart, to sell the pair, targeting 1.0300, 1.0236 and 1.0163 should the downside momentum pick up steam.

breakout pullback setup audusd 2ndskiesforex.com