Following is 5 AUD pairs. Take the breaks as highlighted and trades will be fine. AUD/USD moves with AUD/CHF and sometimes AUD/CAD and AUD/NZD. Most important is AUD/USD and AUD/EUR is way overbought. AUD/CHF is way overbought. AUD/NZD is in stratospheric overbought. The big AUD shorts are upon us.
AUD/USD. Close 0.7665. Supports 0.7551 and 0.7479. Overbought, longs must hold 0.7599 and 0.7581. Below then challenges 0.7551. Below 0.7551 targets 0.7502.
AUD/JPY. Close 86.81. Supports are strong and many. Begins at 86.72, 85.46, 84.26, 83.97. Above 88.91. AUD/JPY moves opposite AUD/USD.
AUD/CHF. Close 0.7695. Supports 0.7538 and 0.7521. Overbought. Good short, responds well, trades same movements as AUD/USD. Great currency pair. Uptrend lines must hold 0.7582 and 0.7569. Below 0.7569 challenges 0.7538 and 0.7521.
AUD/CAD. Close 1.0044. Supports 0.9957, 0.9948 and 0.9930. Not a great mover currency pairs, not now nor in past historic years.
AUD/NZD. Close 1.0665. Supports 1.0500 and 1.0494. Severely and Stratospheric overbought. Dangerous to see a currency pair in this overbought predicament. Short targets 1.0557 and 1.0508.
Brian Twomey, Inside the Currency Market, btwomey.com