Aussie recovered up to 7625 but could not break past 7630 thus kept you short...Now currently we are holding above the 7586 area which is the 23.6 short term fib level...so this is to be watched as Europe opens...If we can hold above here then we have scope to trade higher with the 7620/26 area once more the attraction...
Here cover longs..Go back into a long position if we can break above this resistance....If we can there is scope for further moves higher with 7642/50 then 7674 targeted.
Look at both the 60 min and daily we are still pointing lower...so selling into strength at this point should be the right move...
Below 7586 leaves our 7550/33 support exposed...we look to cover all short positions to here...Look to go long on weakness to these lower levels, keeping stops below 7500...If we lose 7500 look for 7451....
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