AUD/USD - Negative Sentiment Dominates Background

Alan Collins 3cAnalysis

For a 3rd day in a row trading in AUDUSD was subdued yesterday. Minor net gains were posted to offset the previous day’s small decline, but the currency pair is fluctuating, tightly, around the 13 day average. But it is currently the limited nature of the bounce from this month’s low that contributes to a mildly negative bias. With this in the background, this morning’s call is a Sell but leaving room to Sell any Rally to .6800, Monday’s top. The risk is .6830 with downside objectives at .6754, Tuesday’s low, .6735, last week's bottom, or even towards this month’s .6677 low point.

Around Key Average

Author

Alan Collins

3cAnalysis

Alan has been involved in the financial markets for more than 30-years.

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