# AUD/USD Simple Range Play (June 12, 2014)

Source: https://www.tradersway.com/resources/market-info/aud-usd-simple-range-play-june-12-2014/
Language: en
Updated: 2014-06-12

AUD/USD is finding resistance at the top of its range, visible on the 4-hour forex time frame. At the same time, stochastic is moving down, which means that there’s enough selling pressure to push price down.



A strong selloff could last until the bottom of the range near the .9220 levels. A weak one could only last until the mid-range area of interest near the .9300 major psychological support.



![AUD/USD Simple Range Play (June 12, 2014)]



Shorting at market with a tight stop above the previous spikes or the .9450 handle and a target of .9200 could yield a high reward-to-risk ratio but it might be prudent to adjust the stop to entry once price tests the .9300 area.



*By Kate Curtis from Trader’s Way*