Trading Outlook – AUD/USD

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Originally updated: 06:45am

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.


The AUD saw a rally overnight after the RBA left rates unchanged and was seen as slightly less dovish than expected, saying AUD is down recently but remains above most estimates of fundamental value, given falling commodity prices’.


I don’t expect a massive move on this pair at the moment, however I think we should see some further buying into the London session and will look for possible scalping opportunities short term.

If the market does retrace back down then there is a nice confluence zone of support that traders could use as a reference to buy from again.

The confluence zone is at 0.8485-0.8480

Stop loss could be placed at 0.8445

Target: 0.8560

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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"][/social] [social type="twitter"][/social] [social type="google-plus"][/social] [social type="youtube"][/social]

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