36 hours ago the AUD/USD was trading at .7710 and looking very sick indeed. Now it is over 200 pips higher so if you’re a seller, this might be the level to start entering your trade as we are close to good technical resistance. If you look back at AUD/USD daily charts over the last few years and have a look at the 20-day MA, you will see that it can be an excellent leading indicator. Of course there are times when the market just chops around it, but when there is a clean break in one direction, the 20-day MA line can prove to be excellent support/resistance. Today it comes in at .7948. I had heard on Monday that there were good offers at .7950 (that was when the market was trading at .7750) and I’m sure we will get to test this level at some stage during the day. I will post a chart a little later.
Good luck today.
