Trading Plan for the AUD/USD

Yesterday was RBA day in Australia and for the most part, things went as was expected. There was no change to official rates, and while we saw a bit of a spike it wasn’t long before that faded.

I’m still watching the big support level at 0.7640 closely. Should we break that in any decent kind of way, then we will be in line for a test of 0.7580.

I’ll be looking to short a pullback to 0.7675, with our risk set at 0.7750. That will give us slightly better than 1:1 on what is a strong downtrend at the moment.

AUD/USD – 240 min Chart.

ABOUT THE AUTHOR See More

Rowan Crosby

Asia-Pacific Analyst

Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.

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