Trading Plan for the AUD/USD - Forex News by FX Leaders

Trading Plan for the AUD/USD

Posted Wednesday, November 8, 2017 by
Rowan Crosby • 1 min read

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

AUD/USD – 240 min Chart.
Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

About the author

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.
Related Articles
Comments

Leave a Reply

avatar
  Subscribe  
Notify of