Short AUD/USD

Short AUD/USD


Fundamentals:- The RBA will be making there rate announcement next week which is not expected to change. There is concern over the levels of consumer debt at the moment and lagging GDP. I expect the AUD to weaken against the stronger USD next week especially after the stela NON Farm Payrole figures on Friday.

Technicals:- There is an nice area of confluence between 7593 and 76020 which is looking like the point we might see a reversal from the Friday short squeeze. The fibanacci retracement at 50% is also at this level for the 4 hour chart.

sell 7593
stop loss 7630
take profit 7450