Originally updated: 06:00am
Currency Pair: AUD/USD
Sentiment: Bearish
Market focus:
In today’s trade set up we will be focussing on short term selling opportunities on the AUD/USD.
Fundamentals:
The AUD continued its down move after RBA Deputy Governor Philip Lowe said the currency should continue to slide due to being overvalued.
Technicals:
We have a nice confluence zone at 0.8670-0.8680. This should offer short term resistance for any pullback.
Stop loss could be placed at 0.8720
Take profit target: 0.8600
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