AUD/USD: Look to return to more normal day-trading activities
- Long-term technical support at .9390 held on the first test.
- Medium term down-trend is still in control but looks overdone.
- Heavy asset manager selling of AUD not yet complete.
- Japanese semi-officials buying AUD/JPY dips and China buying AUD/USD dips.
Sounds like a perfect recipe for choppy day-trading? Look to play .9425/.9480 range initially and get a slightly more extended bias on a break of either side.