AUD Trading Outlook
INTRADAY CONCLUSION: I’m losing confidence in the buy-dip strategy and I’d suggest a range trade between .9130/.9230 today. Keep stops fairly tight either side but with the crosses all looking a bit shaky, a sell-rally strategy on the day looks most promising.
INTRADAY CONCLUSION: Buy dips. I’m still of the opinion that we will sooner or later get a sharp short-covering spike higher. Support on the day is at .9225/35 so buy near there with a stop below .9200. Bears can look to sell any spikes towards .9330/35, also with tight stops above .9350.
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