What’s the Best Level to Sell the AUD Today - Forex News by FX Leaders

What’s the Best Level to Sell the AUD Today

Posted Thursday, November 9, 2017 by
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.

 

AUD

AUD/USD – 240 min Chart.
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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.
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