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AUD/USD: Forecast January 21, 2015

Published 01/21/2015, 08:05 AM
Updated 07/09/2023, 06:31 AM

AUD/USD Day Trade Ideas

AUD/USD support at 8155/50 is key to direction today. If trying longs we need stops below 8135. Be ready to go with a break lower using 8150 as resistance for a move towards 8115 & perhaps as far as a retest of last week's low at 8075/8065. Just be aware that any further losses this week target January lows at 8035/30.

We could still hold support at 8155/50 and recover a little to 8175/8180, perhaps even as far as 8200/8205. Unlikely any further as the outlook turns more negative but shorts need a stop above yesterday's high of 8218. On a break higher look for a very good selling opportunity at 8230/8240 with a stop above 8260.

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