I have felt for a while now that the AUD is ripe for a corrective move back towards .7500 and I sense that this move may be about to start. There is a medium term top in place at .8250, and what cannot go u must go down. Bullish momentum is certainly dropping off and the market really struggled at .8000 last Friday with dealers reporting lots of selling interest coming out of the woodwork.
I’m small short and am hoping to sell more on any rally back towards .8025. My initial target is .7735.
