AUDUSD: The short term indicators are now mixed
|AudUsd is trading on a strong note at the end of the US session and further gains do look possible although the 4 hour charts are now in overbought territory and the hourlies are turning a little lower.
1 hour/4 hour indicators: Mixed
Daily Indicators: Up
Weekly Indicators: Turning lower
Preferred Strategy: The short term indicators are now mixed and a choppy session at close to current levels would not surprise although the dailies look constructive for further gains, but now that US rates are at parity with Australian rates I do not really think that the Aud$ has too much upside from here and I would be looking for levels to sell into strength. Patience may be required.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.