Trading Outlook – AUD/USD

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Originally updated: 07:00

Trading Bias: SHORT

Currency pair: AUD/USD

Current Sentiment: Bearish

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

Fundamentals:

Following a surge in Oil prices which is now trading above 52 all commodity linked currencies strengthened during the overnight session with AUD/USD now trading at pre-rate cut levels, this presents some attractive opportunities to sell into those rallies. Obviously with the main driver for the upsurge in AUD strength being the rally on commodities we will be paying attention to how they fair throughout today’s session prior to placing any positions.

Technicals:

We expect this pair to sell off during today’s session.

There is strong resistance at 0.7875 – 0.7920 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 be negative for this pair, which would change the sentiment to bullish.

Other Market Moving News:

The S&P 500 gained yesterday closing at +1.4%, elsewhere the Nikkei 225 closed at +1.98% all of which has been accredited to the recent surge in oil prices.

The NZD was the notable performer of the overnight session with commentary from the RBNZ being less dovish than the market had anticipated.

The recent positive note in EU Greece relations has been somewhat overshadowed by recent developments that Greece could be without ECB funding with opposition coming from within the ECB to the Greeks bailout plan.

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Source:: Trading Outlook – AUD/USD

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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]

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