AUD/USD outlook remains negative with minor resistance at 7389 then strong resistance at 7410/20. Holding below either of these levels targets 5 month trend line support at 7360 which could hold the downside as we become oversold. However further losses test the 7330/26 low then very important 18 month trend line support at 7320/10. Try longs with stops below 7280.
Try shorts at 7410/20 with stops above 7450. An unexpected break higher targets 7475, perhaps as far as quite strong resistance at 7490/95. Try shorts with stops above 200 day moving average resistance at 7530.
Add a Comment