AUD/USD Signal Update
Yesterday’s signals were not triggered as none of the key levels given have been reached.
Today’s AUD/USD Signals
Risk 0.75%
Trades may be entered from 8am New York time to 5pm Tokyo time, during the next 24-hours period only.
Short Trades
Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7576, 0.7605 or 0.7620.
Place the stop loss 1 pip above the local swing high.
Adjust the stop loss to break even once the trade is 20 pips in profit.
Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
Long Trades
Long entry following some bullish price action on the H1 time frame immediately upon the next touch of 0.7530 or 0.7493.
Place the stop loss 1 pip below the local swing low.
Adjust the stop loss to break even once the trade is 20 pips in profit.
Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
AUD/USD Analysis
I wrote yesterday that this pair has no long-term trend and has been consolidating within a range over the short-term too. However, events have taken a more bullish tone this week so far with new support being printed at 0.7530. The RBA’s minutes contained no surprises.
The most crucial thing to watch out for will be whether the price can break up above 0.7600, which would be a bullish sign.
There is nothing due today concerning the AUD. Regarding the USD, there will be a release of Building Permits data at 1:30pm London time.