Once again the AUDUSD has failed to hold the 0.6600 level, although in glass half full aproach i should point out that today’s high of 0.6617 has been the highest we have managed to get to during the past 36 hours….not much of a positive i know but at least it isn’t a negative!
If the 0.6480 support gives way i would expect a number of stops to be triggered and a move to 0.6300 is pretty much on the cards and is also a great place to leave some buy orders. If the 0.6600/20 region manages to give way first, then its back to 0.6850.
If you are long AUDUSD, i would be stopping and reversing below 0.6480 with a view to taking them back at 0.6330.
