AUDUSD: End to lower daily highs signals temporary recovery
Bearish AUDUSD signals on the week have been confirmed, but Wednesday’s small range and unchanged close from between the 100 and 200-day average rates highlighted caution. Buyers have subsequently returned to the market, ending a sequence of lower daily highs. This is short-term positive with daily signals pointing temporarily higher.
Allow some room to buy an intraday dip. Raise stop to entry if the first target is met.
Entry: Buy at market and at .7481, the 100-day average rate.