AUDUSD: Has bounced off the 0.7817 session low

Jim Langlands FX Charts

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.

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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