Short term
Trade view / 31 May 2016 at 13:51 GMT

Is the Aussie battler about to make a comeback?

Technical Analyst / FuturesTechs
United Kingdom
Price target:
Market price:

On April 21, AUDUSD topped out at 0.7835, just shy of a big Fibonacci level at 0.7848. It's been selling off more or less in a straight line since then — until last week anyway.

Last Tuesday it got down to 0.7144. Yesterday it hit 0.7149 and then found buyers. The high between these two lows is/was 0.7245, a level that has been tested since, in fact we're trading here as I write.

There is another resistance level to worry about, at 0.7277-85, a Marabuzo line.

The chart suggests that if/when AUDUSD gets above 0.7277, there's scope to 0.7408 at least.

Management and risk description

Initial risk is under 50 ticks. Stop can be moved to entry once 50 ticks onside.


Entry:  Buy half above 0.7245, add on a move through 0.7280

Stop: Below 0.7210 initially 

Targets:  0.7400 and 0.7490 

Time horizon: 1-2 weeks 

AUDUSD daily chart

Source: CQG Inc

Weekly chart
Source: CQG Inc

— Edited by John Acher

Non-independent investment research disclaimer applies. Read more
brian1983 brian1983
yes. i hv a long on aud jpy.
Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
Comeback postponed, clearly, and we've just printed 0.7207 so I'm stopped out. Everything's a little choppy for now, maybe awaiting tomorrow's Payrolls numbers...


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