AUD/USD: Adding small longs near .9050
- AUD/NZD might be forming a basing pattern (see chart).
- Recent lows in AUD/USD at .9035 have held for a second time.
- Large buyers are being reported just ahead of .9000 so we may have a barrier in play.
- The AUD has managed to defend important levels on a weekly basis against the EUR and the JPY.
I’m adding small AUD/USD longs near .9050 but will keep a tight stop on things.