Preferred Strategy: The Aud has bounced off the 0.7817 session low and could see further minor gains ahead although the 4 hour charts suggest that selling into strength still remains the plan, looking for an eventual move toward 0.7800. The dailies still look positive though, so I suspect that we could well be confined to 0.7800/0.7900 until tomorrow’s Australian jobs data. Note that the Aud is now sitting right on the base on the daily cloud (chart below) late in the session having earlier made a clean break lower. See how this unfolds over the next day or two.
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