This is the Level to Short the AUD - Forex News by FX Leaders

This is the Level to Short the AUD

Posted Friday, November 10, 2017 by
Rowan Crosby • 1 min read

The Aussie has somewhat halted its long-term slide over the last week. In fact we even got a rebound on Tuesday even though the RBA kept rates on hold. However the thing to note is that we are now settling into a pretty nice trading range.

As you can see on the charts we have the top of the range around 0.7700 and the bottom at 0.7640.

I’m still long-term bearish so with that in mind I wouldn't want to be trying to buy along that support level. However I am interested in selling the top of the range.

I will be targeting any spikes into 0.7693 as my key level for today. Any further weakness in the USD might see as break 0.7700, however I think we are still in a downtrend.

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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