AUD/USD: Looking to trade .9550/.9715 in coming sessions
- USD bears in complete control again;
- Risk trades got a boost as ‘tapering’ liklihood reduced;
- Real money funds driving the USD selling;
- AUD/JPY resistance at 94.45/65 still relevant and increasingly important;
- AUD/NZD support still holding and EUR/AUD still in downtrend, but oversold;
- RBA Governor speaking publicly today and he may use the opportunity to try and talk the AUD down.
Buying dips is the preferred strategy as we aim at a 50% retracement level near .9715.