AUDUSD: decision time !

02 hrs gmt

My AUDUSD short was ill-timed, I know it was a late entry. It has not gone anywhere much over the past 4-5 days. My expectation, from the charts, is that we should see 0.8850, probably this week. However this morning the AUD is acting very perky and I am in negative territory. Decision time: cut or stay?

I think I will stay in this trade. This trade is based on the daily chart. A break / close over 0.9208 signifies a reversal on the daily chart. Besides, having seen many monkey tricks prior to data release events like the RBA decision tomorrow, I think this move in the AUD is bank traders manipulation to get a better entry tomorrow. I will risk 100 pips and stay in the trade.

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