Currency Trading Technical Strategy

audusd-hourly-23-feb-09
  • The AUDUSD has held above the crucial 0.6300 level (so far!) and if this continues to be the case we should work our way back to 0.6850 initially, but with a longer term outlook involving a move closer to 0.7500.
  • If we can get the daily 5 day MA to cross above the 15 it will be another tick in the positive column for the AUDUSD.
  • Continue to leave bids at 0.6420 and again at 0.6355 (in addition to current longs you may have) with a stop below 0.6280.