Inside the Currency Market: AUD/USD Update

Slight changes to earlier AUD forecast. The new bottom and target is found at 0.7359 upon a break of 0.7397 and 0.7396. Target above and overbought sell point 0.7420. New range above 0.7470. New range bottom 0.7275. Full range 0.7470 – 0.7275, 195 pips. The overall range widened by 48 pips from 147 this morning. See my point regarding AUD volatility.

Strategy. Sell 0.7420, target 0.7359. good chance we reverse long at 0.7359. Points from 0.7420 then 0.7405, 0.7400, 0.7397, 0.7396 then target 0.7359.

Next update around 1:00 EST

Brian Twomey Inside the Currency Market, btwomey.com

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