AUD/USD: Unemployment rate increased to 5.4% yet the AUD still rises
This market is short! Traders may be justifying the rise by looking at the data breakdown but if this market was really bearish then it would fall on a number like this.
I like the idea of buying dips 1.0200/10 with s/l below 1.0170 looking for a test of 1.0310/20. I would not buy into this strength, risk/reward doesn’t stack up in my view.