Short AUDUSD @ 0.9111

13.49 gmt

I’ve missed the boat big-time on this pair. First signal was when this pair was at about 0.9340, another one at 0.9200 today. I’ve been waiting for a bounce, which hasn’t come. I should remember the Aussie traders’ quip: The Aussie climbs the stairs but comes down in the elevator!

The relentless downward pressure this week means a very high chance we will break the recent low at 0.89xx. That’s still over a 100 pips away, and the risk appears low from the charts so far.

Short $8/pip AUDUSD @ 0.9111, SL 0.9186.


2 thoughts on “Short AUDUSD @ 0.9111

    1. ZenFXTrader

      Hi Johannes, the technical picture very strongly suggests this pair should test the previous low at least – that is 0.8850. Watch the price action there, since there would be huge stops below that level which would be targeted by the sellers. So a breakdown below 0.8850 might go down a further 100 pips. But as always, I’ll watch the price action for clues. Technically the target should be around 0.85, but it will not get there without a significant correction first.



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