AUD Trading Outlook
INTRADAY CONCLUSION: After yesterday’s events I am now in the sell-AUD-rally camp, but primarily on the crosses as I’m still not a big fan of the USD especially pre-FOMC. Sell AUD/JPY near 93.00 or buy GBP/AUD near 1.6950.
INTRADAY CONCLUSION: AUD bulls are back in control and if big resistance levels (like .9350 in AUD/USD and 93.70 in AUD/JPY) can be overcome then we should see further swift gains. I booked profit on my long position as I feel it’s a bit overdone in short-term but I would not recommend going short just yet.
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