AUD/USD and AUD/CAD: Levels, Ranges, Targets

 

AUD/USD short at 0.7662, target? currently set at 0.7620 but looking for bit lower to 0.7574. Current AUD is overbought and tough resistance exists above t 0.7677 and 0.7683. The best AUD/USD could achieve today is 0.7694 on break of 0.7677 and 0.7683. Here”s the major points 0.7674, 0.7677, 0.7683, 0.7688 then 0.7694.

Below major points 0.7572, 0.7562. Most vital overall is 0.7538 and 0.7535.

AUD/CAD. Short at 0.9984, best short point today was exactly 0.9994. Best AUD/CAD could achieve today is 1.0043 but breaks must occur at 0.9994, 1.0024, 1.0031, 1.0038 and 1.0043. Most vital overall is 0.9994 and 1.0031.

Target looking for 0.9930’s to 0.9940’s as those are today’s bottom points. Further supports 0.9886, 0.9872, 0.9840 and 0.9831.

 

Overall 8 trades done for 450 pips. An extra USD/CAD short was added and not reported and profited 40 something pips. GBP/NZD exited for bout 100 pips. The 8 trades were 6 shorts and 2 longs. GBP/JPY long remains and down about 50 pips. GBP/USD longs remain and down 100 and 50 from CPI.

Key point  is remain focused and get this done correctly.

 

Brian Twomey, Inside the Currency Market, btwomey.com

 

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