The short-term bull trend has run out of a bit of steam but I remain very much in the buy-dips camp. I’ve been reading some quite extraordinarily bullish USD forecasts over the last few days against the JPY, CHF and EUR but I simply don’t see it happening particularly against the AUD.
I’m looking to increase my long position again on any dips towards .9135 although by the same token, rallies to the 61.8% Fibo at .9335 will probably encounter grateful sellers. So play this 200 pip range with a bullish bias in my view.