Updated: 06:57
Currency Pair: AUD/USD
Sentiment: Short term bullish
Market focus:
In today's trade set up we will be focussing on short term buying opportunities on the AUD/USD.
Fundamentals:
Today's trade is purely focussed on a very short term play based on renewed Chinese easing calls. This was after the Chinese 1y/1y swap rate hit a low of 3.04%, near the PBoC's deposit rate mark of 3%.
Technicals:
We have a nice confluence zone at 0.8705-0.8700. This should offer short term support for any pullback.
Stop loss could be placed at 0.8670
First take profit target: 0.8730
Second take profit target: 0.8770
Trade management: After target 1 hit stop loss could be moved to breakeven
Currency Pair: AUD/USD
Sentiment: Short term bullish
Market focus:
In today's trade set up we will be focussing on short term buying opportunities on the AUD/USD.
Fundamentals:
Today's trade is purely focussed on a very short term play based on renewed Chinese easing calls. This was after the Chinese 1y/1y swap rate hit a low of 3.04%, near the PBoC's deposit rate mark of 3%.
Technicals:
We have a nice confluence zone at 0.8705-0.8700. This should offer short term support for any pullback.
Stop loss could be placed at 0.8670
First take profit target: 0.8730
Second take profit target: 0.8770
Trade management: After target 1 hit stop loss could be moved to breakeven
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