The topside currently looks capped by 0.8150, above which could see a squeeze towards 0.8200 although this looks unlikely today. If wrong the 100 HMA at 0.8225 should provide ample cover.
The short term charts are showing some potential bullish divergence, so we should be prepared for a bit of a short squeeze, although the longer term strategy remains unchanged in looking for a lower Aud, so looking to sell short term rallies remains the plan.
Further out, there is no change in view, eventually targetting 0.6000 (multi year) – see monthly chart below.
Economic data highlights will include:
RBA Quarterly Bulletin, China House Price Index..
The post AUDUSD: Aud at 4 year lows, targetting 0.8066 – and (a lot) lower – eventually. appeared first on FX Charts Daily.
The post AUDUSD: Aud at 4 year lows, targetting 0.8066 – and (a lot) lower – eventually. appeared first on www.forextell.com.