AUDUSD: Back below 0.7800

Jim Langlands FX Charts

Preferred Strategy: The Aud reached a high of 0.7808 on Wednesday but is now back below 0.7800 and appears set to remain rangebound again today although the local data may cause some minor volatility (Home Loan/Consumer Confidence). The short term momentum indicators are mildly positive, but with the dailies still pointing lower, selling rallies still appears to be the plan.

Economic data highlights will include:

WBC Consumer Confidence, Home Loans, Investment Lending for Homes, China Foreign Direct Investment

Author

Jim Langlands

FX Charts

Jim Langlands began his trading career in the commodities markets in London in 1976, before moving to Australia in 1979 to work as a floor trader on the Sydney Futures Exchange.

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