AUDUSD signals show bounce to persist
This week’s bounce has been signalled as most likely corrective and temporary, but dips continue to attract buyers with sentiment closing above the key moving averages on Thursday. With no sign yet that demand is ending, signals for Friday continue to point higher.
Management and risk description
Allow room to buy the intraday dip and raise stop to entry if the first target is met.
Entry: market and 0.7410.
Stop: 0.7372, yesterday's low.
Target: 0.7517, a 62% recovery to the losses posted since last week's high and 0.7600.
Time horizon: today only.