AUD/USD confirms yesterday’s bullish break
My long position is looking increasingly healthy and I’d expect prices to stay now above .9030/40, with an initial target at .9200. I’m not in any rush to book profits, as I think the big short squeeze is only just beginning.
It should be another busy day, with the RBA monetary policy statement and Chinese CPI on the calendar. Any positive news is likely to trigger further short-covering, so danger to the topside once again imho.
Good luck today and TGIF.