Selling Opportunities AUD/USD – Forex Trading Tips

Posted On 13 Apr 2015

By : Jarratt Davis

Comment: 0

Tag: AUDNZD, AUDUSD

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Originally updated: 08:00

Trading Bias: SHORT

Currency pair: AUD/USD

Current Sentiment: Bearish

In today’s trading session we will be focussing on selling opportunities AUD/USD.

Fundamentals:

Markets were relatively quiet overnight although the AUD and NZD underperformed following weaker Chinese Trade Balance data along with an unwind of last weeks carry trade support. Also the markets expectations of a rate cut from the RBA in May have increased recently, so we can expect any rallies on AUD/USD to be short lived.

Technicals:

We expect this pair to fall lower during today’s session.

There is strong resistance at 0.7700 should it rally that far, failing that 0.7650 is noted as medium term level of resistance which could provide trading opportunities should the price pull back. Look for the price to bounce off this level if it retraces back to it.

Remember to be aware of intra-day news as this can very often change the sentiment which makes our trade weaker. Look for any news that could negative for the USD which would change the sentiment on this pair

Other Market Moving News:

Looking ahead on today’s calendar we have a very light session with no tier 1 market moving news due for release – so we could have a relatively quiet session ahead.

News overnight news is relatively limited with the only story of note being the huge miss for Chinese Trade Balance, which has spurred speculation over further Chinese easing.

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Jarratt Davis is the world’s ranked #2 (2008-2013) Forex Trader by Barclays FX Hedge Index, following years of mastering his art as a self employed trader Jarratt has now entered the field of education and delivers the most robust Forex education package on the market. Jarratt’s mentorship is one of the only programs on the market that is conducted by a verified professional trader. Forex Alchemy readers can get the FREE mini course where Jarratt gives away some of his secrets to success by Clicking Here... [space height="20"] [social type="facebook"]www.facebook.com/JarrattDavisForex/[/social] [social type="twitter"]https://twitter.com/jarrattdavis[/social] [social type="google-plus"]https://plus.google.com/+JarrattdavisForexTrader/[/social] [social type="youtube"]https://www.youtube.com/user/JarrattDavisForex[/social]