Intraday players continue to sell Aussie by Reece Marini

AUDUSD M30

AU30

The smart money was seen selling the Aussie during yesterdays trading session on the 1:1 (Purple) at 0.87600 but by the end of the day the market was again looking to test the 1:1 high ahead of the Chinese Manufacturing PMI and Australian retail sales data. The data come in as expected for the Chinese PMI data but the Aussie retail sale data missed expectation and the market is again testing the 2014 lows.

AUDUSD M5

AU5

Intraday bears have been seen selling against the 1:1 (Yellow) and 38.2 fib that coincided at 0.86950/980 after the worse than expected Australian retail sales data which came in at 0.1% vs 0.4%, there are likely a large number of stops sitting below the 2014 low at 0.86590.

 

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