AUDUSD: The short term indicators are now mixed

Jim Langlands FX Charts

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.

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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