Trading Outlook: AUD/USD

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Originally Updated: 06:10am

Currency Pair: AUD/USD

Sentiment: Bullish

Market focus:

In today’s trade set up we will be focussing on short term buying opportunities on the AUD/USD.

Fundamentals:

We are looking for buying opportunities on the AUD/USD today after business conditions in Australia gained by the most on record, taking this into account and the poorer than expected employment figures from the US last Friday I think we could see a short term pop up in the AUD/USD. U.S markets should see light volume today with the banks being closed in observance of Veterans Day.

Technicals:

We have a nice confluence zone at 0.8565-0.8555. This should offer short term support for any pullback.

Stop loss could be placed at 0.8525

Take profit target: 0.8608

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Source:: Trading Outlook: AUD/USD

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