Update : My bearish bias on AUD pairs made on 27th Jan 2014 are no longer valid now.
AUD is becoming bullish across all pairs post Reserve Bank of Australia's decision to keep interest rates on hold at 2.5 %.
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AUD , CAD are one of the weakest currencies at the moment. This is quite evident from Below image.
Important support levels were broken,retested and rejected on some AUD pairs last week. Below are my thoughts and trade setup ideas.
AUD/CHF : CHF is currently one of the strongest currency and AUD one of the weakest. The pair has broken important support at 0.82300 and then at 0.78500. I missed my sell limit order entry at 0.82300 level by few pips 2 weeks back and was expecting price to return to this level but it didnt.
Weekly Stochastics are bearish.
I will be placing a sell limit order at 0.78100 for a target of 0.74100.
EUR/AUD: This pair has broken resistance at 1.50500 and 1.56200. I expect price to retest 1.56200 next week and continue its bull run.
GBP/AUD : This pair has broken weekly resistence at 1.87 and likely to resume its uptrend after retesting it.
AUD is becoming bullish across all pairs post Reserve Bank of Australia's decision to keep interest rates on hold at 2.5 %.
------------------------------------------------------------------------------------------------------------
AUD , CAD are one of the weakest currencies at the moment. This is quite evident from Below image.
Important support levels were broken,retested and rejected on some AUD pairs last week. Below are my thoughts and trade setup ideas.
AUD/CHF : CHF is currently one of the strongest currency and AUD one of the weakest. The pair has broken important support at 0.82300 and then at 0.78500. I missed my sell limit order entry at 0.82300 level by few pips 2 weeks back and was expecting price to return to this level but it didnt.
Weekly Stochastics are bearish.
I will be placing a sell limit order at 0.78100 for a target of 0.74100.
EUR/AUD: This pair has broken resistance at 1.50500 and 1.56200. I expect price to retest 1.56200 next week and continue its bull run.
GBP/AUD : This pair has broken weekly resistence at 1.87 and likely to resume its uptrend after retesting it.
