AUD/USD Signal Update
Yesterday’s signals were not triggered.
Today’s AUD/USD Signals
Risk 0.75%
Trades may only be entered from 8am New York to 5pm Tokyo times only, during the next 24 hours.
Protect any open trade by 6:30pm London time.
Short Trades
Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7536, 0.7565, 0.7576 or 0.7606.
Place 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 Trade 1
Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7458 or 0.7420.
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 short-term bullish move continued with a spike up that almost reached 0.7576 before falling sharply again down to the area of support that sits in a zone from around 0.7455 to 0.7420. The price seems to have found a bottom just ahead of that.
The big picture shows a slight-short-term bearish trend, but with major support zones acting fairly reliably, so it seems as if this pair is really without a big trend. As such it is a good candidate to trade at reversals of major levels.
At the moment, there are more resistance levels nearby than support.
There is nothing due today concerning the AUD. Regarding the USD, there will be a release of Core Durable Goods Orders data at 1:30pm London time, followed by Crude Oil Inventories at 3:30pm, ending with the FOMC Statement and Federal Funds Rate at 7pm.