Although having something of a quiet day (this reminds me why i normally sleep during the Asian session) the AUD/USD is not looking well and the only positive i can find is that is hasnt broken below 0.6280 yet, not much of a positive i know. If we did manage to get through 0.6550 you have to negotiate the resistance at 0.6640 from the 50 and 100 day MA’s. To me the path of least resistance at the moment is going to be down so lets make the most of it.
Leave orders at 0.6470 and 0.6510 with a stop above 0.6580, look to take something off the table ahead of 0.6300 and go with the break of 0.6270 for a move to 0.6000.
