A platform for AUDUSD recovery
While bullish signals for the AUDUSD were confirmed in the previous week, the failure from close to 0.7489 – a 50% recovery to the entire April-May losses – switched last week’s signals to bearish.
Management and risk description
Allow room to buy a dip and raise stop to entry if the first target is met.
Entry: market and .7333, Wednesday's low.
Stop: 0.7265, just below the 200-day average.
Target: 0.7505, June's high and .7604.
Time horizon: this week.
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