AUD/USD Signal Update
Yesterday’s signals were not triggered as none of the key levels were yet reached again.
Today’s AUD/USD Signals
Risk 0.75%
Trades must be taken from 8am New York time until 5pm Tokyo time, over the next 24-hours period.
Short Trades
Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7692 or 0.7723.
Put the stop loss 1 pip above the local swing high.
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 Trades
Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7649, 0.7604, 0.7567 or 0.7530.
Put 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
We had a sell-off from the resistance level at 0.7692 which happened before the New York open. However, the price has recovered and the picture remains bullish, but perhaps a little thinly so. The long-term bullish trend remains intact but the resistance level at 0.7692.
The market is quiet and really focusing on the key U.S. data releases due later.
There is nothing due regarding the AUD. Concerning the USD, there will be a release of Core Durable Goods Orders at 1:30pm London time followed by testimony from the Chair of the Federal Reserve before Congress at 3pm and Crude Oil Inventories data at 3:30pm.