AUDUSD: Trading from the short side

Jim Langlands FX Charts

Preferred Strategy: AudUsd has drifted slowly lower through the day, unable to hang on to Friday’s gains, and the short term momentum indicators suggest that we may head lower again through the coming session although the RBA Minutes will be the arbiter of that. Trading from the short side, selling near term rallies is preferred, with a SL placed above 0.7890, but looking for a run down to the 100 DMA. Sell AudUsd @ 0.7865. SL @0.7895, TP @ 0.7800

Economic data highlights will include:

WBC Leading Economic Index New Motor Vehicle Sales, RBA Minutes

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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