AUD,NZD/Flows and Orders

AUD/USD: Talk of barrier protection at .9500

The overnight lows were around .9510 and we are testing those levels again at the moment. There was talk overnight of a barrier at .9500 and price action would seem to confirm that. The overall bear target for this leg of the downmove is at .9400.

  1. …and my AUD/USD short target was hit too. Lucky me. To be honest I took profit early and went to sleep and with the ECB and NFP coming up (and some long weekends) I’m not keen to stay involved in the market.

    I wonder if we’ll see the “summer doldrums” again soon or it’s going to be a volatile holiday season instead. I just want to wait and see now. I’m not very good at scalping but maybe if we see tight ranges, will try something with the 4H charts.

    Or just join the stop hunters in early Asia and Europe for trying to catch a few quick pips.

    Good luck to all.

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