Trade idea: Sell Aussie at 0.76900 by Reece Marini



The Aussie has continued to sell off since the bears were seen selling into the 1:1 (Light blue) and 38.2 fib at 0.78750/800, momentum has picked up on the downside today with the Employment Change and Unemployment Rate missing expectations.



I will be looking to sell into strength on the 1:1 (Light blue) and 23.6 fib at 0.76900 with a tight stop at 0.77050. My first target will be the days low at 0.76430, if momentum picks up on the break of this low I will look to target 0.75000.

* A 1:1 refers to a current correction being equal in length to a prior correction


Reece Marini is an FX trader and Director of the an instant Forex rebate and Signal provider, if you would like to subscribe to our daily reports you can do so here its FREE

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