What’s the Best Level to Sell the AUD Today
Rowan Crosby • 1 min read
The Aussie has been pretty quiet this week despite a bit of a kick on Tuesday thanks to the RBA. Overall my bias is still to the downside and I’ve been looking to find some good levels to sell.
On the 4-hr chart, we are overbought according to the RSA and there is a level around the 0.7685, that I like the look of. I can’t see there being too many drivers for the rest of the Asian session, but if the USD can fire up then we could well be on track for more downside.
I suspect we might have to wait for the USD to take out the 95.00 resistance before we see any more large downside moves in the AUD. However, that is looking close as there is a bullish bias to the USD.
If we push to 0.7700, then I would reassess the current trend during the Asian session.