AUDUSD: Trading from the short side

24 Hour: Prefer to sell rallies Medium Term: Mildly Bearish.


Preferred Strategy: The momentum indicators are mixed on Monday, with the short term charts looking mildly positive, although at the same time the dailies look increasingly negative, so a cautious stance is required, with any directional move likely to come via the Chinese data.

Once again, trading from the short side, selling rallies, with a SL above 0.7945 could be a plan for Monday although I doubt that we head below Friday’s 0.7838 low today.

Economic data highlights will include:

M:  China Retail Sales, Industrial Production, Urban Investment (July)

T: New Motor Vehicle Sales, RBA Minutes

W: WBC Leading Economic Index, Wage Price Index

T: Unemployment

F: China House Price Index


All content on this website, (FX Charts PL) is a personal view only and offers absolutely no guarantee as to the correctness or otherwise of that opinion. The content here is of a “general nature” only and does not constitute personal or investment advice. The FX Charts website is not an inducement to trade Foreign Exchange (FX). No liability whatsoever is accepted for any loss or damage that may result, directly or indirectly, from any , comment, opinion, information or omission, whether negligent or otherwise, within the FX Charts Website. The information and any opinion or outlook expressed in this commentary may be based on assumptions or market conditions and may be liable change at any time, without notice.