AUD,NZD/Flows and Orders/FXWW News

AUD/USD set to test barrier protection as Chinese financial stocks crash

We had a few strong attempts at breaking above technical resistance in the AUD/USD at .9250 earlier today but the focus is now back on the downside after earlier comments from the Australian PM, and now a sharp fall in the Chinese financials index, down by over 7% amid the on-going credit squeeze.

The next big test for the AUD/USD is whether the option protection at .9150 can hold or not. I’m still long with a stop below .9120.

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