AUD/USD Signal Update
Last Tuesday’s signals were not triggered as none of the key levels were reached that day.
Today’s AUD/USD Signals
Risk 0.75%
Trades may only be entered between 8am New York time and 5pm Tokyo time, during the next 24-hours period only.
Short Trade 1
Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7587.
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 Trade 1
Long entry following some bullish price action on the H1 time frame immediately upon the next touch of 0.7443.
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
This pair has continued its bearish breakdown. The Australian and New Zealand Dollars are currently some of the weakest performers against the USD which is strong across the board. The key support level that was sitting at 0.7530 has now been breached although it is quite possible there may be buying if and when the psychologically key 0.7500 level is reached. A meaningful breach of 0.7500 will leave this pair looking bearish, although its long-term action between 0.7000 and 0.7600 has been ranging if not exactly choppy.
There is nothing due today regarding the AUD. Concerning the USD, there will be a release of Unemployment Claims data at 1:30pm London time, followed by Crude Oil Inventories at 4pm.