AUD/USD: Taking a small long position at .9600
I think the AUD/USD is oversold and the same people who were bullish at 1.05 are selling at .96.
I’ve taken a small long position at .9600; AUD/JPY support at .9550 should be solid but the fact that EUR/AUD resistance has broken means that I will only take a small position.
Interesting to note that the AUD seems to be getting sold off on a Goldman Sachs report that the RBA will cut twice more this year. Firstly, ignore everything these guys say. Secondly, they were a reported big buyer earlier today. Go figure!