AUD/USD Signal Update
Yesterday’s signals were not triggered.
Today’s AUD/USD Signals
Risk 0.75%
Trades must be taken from 8am New York time to 5pm Tokyo time.
Short Trade 1
Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7549.
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 bullish price action on the H1 time frame immediately upon the next touch of 0.7309.
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
The RBA adopted a “wait and see” approach in its monthly release, leaving rates unchanged when there had been some possibility of a cut. Nevertheless, this pair was unable to break up above the key resistance level of 0.7549, which has become a very key level. This suggests that the pair is not as bullish as could have been thought. The price has been falling with some momentum from that area although the real movements are in the British Pound and Japanese Yen over recent hours.
It looks as though this pair is going to be “in between”, although with some weak bullish bias.
There is nothing due concerning either the AUD or the USD.