AUD,NZD/Trade Ideas

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.

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