Morning all,
AUDUSD had a good push higher on Friday night above 7850. Today looks like it will be quiet with London and NY off tonight. Im looking for the USD weakness that we saw on Friday to consolidate and even reverse a little. I dont think we will see AUDUSD break out of Friday’s range and expect it to traded within a range of 7750/60 – 7850/60. Sellers are scattered from 7850 all the way up to 7930(50% Fibo retracement level). Bids are seen on the downside at 7720-30, with traders happy this morning to buy just under 78c for range plays up to 7850.
Im bearish as we start approaching 80c, with maybe one last spike just above 7930 before lower towards 7330. On the day im a seller on the rally towards 7850, buying them back at 7780.
