Trading Outlook – AUD/USD

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Originally updated: 06:00am

Currency Pair: AUD/USD

Sentiment: Bearish

Market focus:

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

Fundamentals:

The AUD continued its down move after RBA Deputy Governor Philip Lowe said the currency should continue to slide due to being overvalued.

Technicals:

We have a nice confluence zone at 0.8670-0.8680. This should offer short term resistance for any pullback.

Stop loss could be placed at 0.8720

Take profit target: 0.8600

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Source:: Trading Outlook – AUD/USD

About the Author
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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