It is being a tough weak for AUD which is now being negotiated below 0.92500.
The RBA comments and the Iron price pushed the AUD below...
Today we still have 2 importante speeches left that can bring high volability to the market.
The chinese economy is showing signals that it is slowing down, which mean that we can see some bad PMI results tonight. This would probably affect negatively the AUD.
For those who have not sold AUDUSD yet, I think you should wait for the pair to cross 0.92000.
If it continuous to fall, we can see a formation of a forth Elliot wave, in case the price is supported, at 0.91500 (our target).
Be carefull when opening your positions since the market might be just testing the 0.92000 level!
Open: 0.91980
Target: 0.91500
StopLoss: 0.92050
Risk/Reward Ratio: 6.86.
The RBA comments and the Iron price pushed the AUD below...
Today we still have 2 importante speeches left that can bring high volability to the market.
The chinese economy is showing signals that it is slowing down, which mean that we can see some bad PMI results tonight. This would probably affect negatively the AUD.
For those who have not sold AUDUSD yet, I think you should wait for the pair to cross 0.92000.
If it continuous to fall, we can see a formation of a forth Elliot wave, in case the price is supported, at 0.91500 (our target).
Be carefull when opening your positions since the market might be just testing the 0.92000 level!
Open: 0.91980
Target: 0.91500
StopLoss: 0.92050
Risk/Reward Ratio: 6.86.