James Kim@Saxo
James Kim, sales trader at Saxo Capital Markets Australia, examines trading strategies during week 43 in a technical analysis of charts for forex, indices and commodities.
Short term
Trade view / 11 July 2016 at 7:22 GMT

Higher weekly AUDUSD lows keep dip signals in play

partner and technical analyst / 3 c analysis
United Kingdom


Since June, AUDUSD sentiment has been oscillating around its 100-day average rate. A strong two-day Brexit selloff three weeks ago has attracted buyers at the 200-day average rate, protecting a sequence of higher weekly lows. This continues to highlight investor demand to buy into any weakness and with no sign that this trend is ending, signals for this week remain bullish.

Management and risk description

Stay long or buy modestly at market and then buy the dip. Raise stop to entry if the first target is met.


Entry: market and 0.7481, Friday's open.

Stop: 0.7408, last week's low.

Target: 0.7719, May's high and 0.7835, this year's top posted in April.

Time horizon: this week.

 Source: CGQ

AUDUSD Weekly -higher lows
 Source: CGQ

AUDUSD Monthly - recovery to losses
 Source: CGQ

AUDUSD Quarterly - 7 year lows
 Source: CGQ

— Edited by Martin O'Rourke

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