AUD/USD testing lows from October 2011

The AUD/USD has gapped 100 pips lower on the back of poor Chinese data (and the fact that everyone is desperate to sell) and has taken out an option barrier at .9400. Strong chart support at .9390 is still holding but there isn’t much bounce yet, always a bearish sign.
I’m leaving it alone waiting for some exhaustive dips towards .9250 before I start buying.

  1. I don’t like it when my levels get broken by large amounts Andras, if mkt starts trading below 91 say, then I’d probably look to get out and reassess.
    I will buy smalls at 9250/9200 and then make my mind up on future strategy from there.
    Also I seldom leave entry orders, preferring to see how mkt is trading before entering

Leave a Reply

Your email address will not be published. Required fields are marked *