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.