$AUDUSD watch areas for Monday, Feb 29 2016.

The Aussie dollar had a solid run down on Friday and looks over extended on the short term. Monday is opening with a very short term triangle. Support seems to be around 7100, while Asia should be capped within a 60 pip range with resistance around 7160.

Pair is in a clear intra-day down trend, but a Sydney retracement is likely.

Kommentera:

Another day of consolidation meant the 7100 to 7160 zone we talked about held firm. Some nice intra-day range plays was all that was on offer.