This is pure guesswork on my part, but most traders think the same way and if I had been selling AUD/USD intraday then I’d probably have my trailing stops above .9265 (see chart).

We moved 60 pips lower off opening levels at .9280 and if we moved 60 pips above there, that would see us near .9340 and that’s exactly where I’m hoping to off-load my intraday purchases. Wishful thinking perhaps, but I think we are in a sideways range consolidation so its not an unreasonable ask.