Not much going on in the beginning of this week. Euro trades a bit lower against the greenback at 1.3060 at the moment, while the Japanese yen continues to trade near a two-and-a-half year low against the dollar at 88.20. 89.00 area is the next immediate target for the pair as markets continue to price in bold monetary action by the BOJ and no-further stimulus from the Fed. The news calendar comes light for the rest of the day.
AUD/USD 4H Chart:
The pair seems unable to break above resistance enforced by the previous highs and paired by the 76.4 fibo. Therefore selling with a stop-loss just above 1.0515 area targeting at 1.0440 might prove solid.
AUD/USD H4" title="AUD/USD H4" width="970" height="570">
Disclaimer • Risk Warning
This document should not be relied upon as being an impartial or objective assessment of the subject matter and is not deemed to be “investment research” as defined by the applicable law. This document has been issued by TFI FX only for information purposes and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action.