AUDUSD: Aud at 4 year lows, targetting 0.8066 – and (a lot) lower – eventually by FX Charts

 

AUD/USD: 0.8130
Having broken down through 0.8200 yesterday to meet the 0.8145 objective in reaching a low of 0.8139, the Aud then rebounded but was unable to reach 0.8200 again, and since the FOMC outcome it was fallen to a new trend low of 0.8106 and is currently hanging on precariously above the lows.Technically, a break of 0.8100 would mean a run lower to test the May 2010 lows at 0.8066 and below that here is not too much to hold it above 0.8000 and it looks as though the RBA are, slowly but surely, going to get their wish for the Aud to head towards 0.7500!

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..

Meta Trader – AxiTrader AUD/USD: 4 HourAud

Aud 1

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.

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