AUDUSD signals point to temporary improvement
The bearish signals on the week and for Tuesday have been confirmed for AUDUSD, with investors selling the market yesterday to post a fifth lower weekly low in a row and initial losses of ¾ Big Fig on the day.
Although prices are trading below their key moving averages, the downside has slowed following a 7 Big Fig deterioration since April’s .7835 top and there has been some profit taking buying in Asia this morning.
Management and risk description
Allow room to buy an intraday dip and raise stop to entry if the first target is met.
Entry: Market and 0.7184, today's open in Asia
Stop: 0.7144, yesterday's low
Target: 0.7261, this week's high and 0.7368, last week's top.
Time horizon: Today only.
— Edited by Adam Courtenay
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