AUD/USD Signal Update
Last Thursday’s signals expired without being triggered as the price did not hit any of the key levels outlines during that day.
Today’s AUD/USD Signals
Risk 0.75%
Trades may only be taken between 8am and 5pm New York time only, or after 8am Tokyo time later.
Long Trade 1
Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7682.
Place the stop loss 1 pip below the local swing low.
Move the stop loss to break even once the trade is 20 pips in profit.
Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
Long Trade 2
Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7647.
Place the stop loss 1 pip below the local swing low.
Move the stop loss to break even once the trade is 20 pips in profit.
Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
AUD/USD Analysis
The renewed USD strength which started to show last week is now making a very big impact upon this pair. Like everything else, the AUD is falling hard against the USD as at the exact time of writing, and seems to have broken support at 0.7805 which may now well flip to become resistance, although it is a little too early to look for this safely.
There is no obvious strong support below until 0.7682 so we could well continue to fall now to at least the round number at 0.7700. Be warned there might be minor support at approximately 0.7760.
There will be a release of U.S. Core Durable Goods data at 1:30pm London time, followed by CB Consumer Confidence at 3pm.