The Aussie is behaving like a beach ball – can’t be pushed any lower. The dovish RBA, poor GDP data have not been enough to break 0.9050 decisively. What can’t go down must eventually go up. I have therefore closed my short at a small profit and have gone long. This level provides a good low-risk long entry.
Closed AUDUSD short at 0.9062, +21 pips.
Now long $5/pip AUDUSD At 0.9062. SL 0.9022.