Aussie has been playing the role of the tough guy for a while now , ignoring RBA rate cut and advancing more than 150 pips then .
AUD/USD also ignored the surprising and better than expected non farm payroll "NFP" report , US economy added 255k jobs VS 180k expected. The US dollar rose against all majors including the australlian dollar , however audusd erased all losses and back to square one before the RBA and NFP.
The pair is facing tough resistance at the area of 0.7675 area , where it fell many times from that area , if conquered , we might see 0.7720 which is last defence line against recent highs at 0.7840 area.
The pair is not supposed to go there and even if , it will be very good area to short the pair at targeting 0.73$ area as first support , if broken , we will see prices not seen in almost a year , and the pair will be trading between 0.6980 to 0.7180 before resuming its fall. I prefer that scenario and I am on the short side
Feel free to join me on this trade and If you have any ideas , lets discuss
AUD/USD also ignored the surprising and better than expected non farm payroll "NFP" report , US economy added 255k jobs VS 180k expected. The US dollar rose against all majors including the australlian dollar , however audusd erased all losses and back to square one before the RBA and NFP.
The pair is facing tough resistance at the area of 0.7675 area , where it fell many times from that area , if conquered , we might see 0.7720 which is last defence line against recent highs at 0.7840 area.
The pair is not supposed to go there and even if , it will be very good area to short the pair at targeting 0.73$ area as first support , if broken , we will see prices not seen in almost a year , and the pair will be trading between 0.6980 to 0.7180 before resuming its fall. I prefer that scenario and I am on the short side
Feel free to join me on this trade and If you have any ideas , lets discuss