AUD/USD Signal Update
Yesterday’s signals expired without being triggered.
Today’s AUD/USD Signal
Risk 0.75%
Trades may only be taken between 8am and 5pm New York time only, or after 8am Tokyo time later.
Short Trade 1
Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7805.
Put 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 Trade 1
Long entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7550.
Put 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
This pair has continued to go nowhere for just another day, but at the moment pretty much the whole Forex market is going nowhere so that is nothing exceptional.
The key levels to watch out for remain unchanged: resistance at 0.7805, support at 0.7550, and minor support with the double bottom at 0.7600.
There are no high-impact events scheduled today for the AUD. Regarding the USD, there will be a release of Building Permits data at 1:30pm London time.