The aussie has had a good run up, but it seems to me that it is now, running out of steam.
On the H4 charts of AUDJPY and AUDUSD you can see a topping kind of price action.
AUDCHF and AUDNZD may have turned around already.
The AUDCAD daily chart shows the significance of 0.9370 area and price being rejected there for a second day in succession. Price action on H4 also hints at a move to the down side.
The next Asian session due to start in the next 3-4 hours will provide more clues, I don't see much in the way of news release coming up.
Trading reversals can be hazardous, and not to forget the NFP tomorrow (Friday) so I will be reducing my position size.
If you like my analysis, please give it a "thumbs up" and follow me to get instant notifications of my posts.
As always, please use sound money and risk management in all your trades.
On the H4 charts of AUDJPY and AUDUSD you can see a topping kind of price action.
AUDCHF and AUDNZD may have turned around already.
The AUDCAD daily chart shows the significance of 0.9370 area and price being rejected there for a second day in succession. Price action on H4 also hints at a move to the down side.
The next Asian session due to start in the next 3-4 hours will provide more clues, I don't see much in the way of news release coming up.
Trading reversals can be hazardous, and not to forget the NFP tomorrow (Friday) so I will be reducing my position size.
If you like my analysis, please give it a "thumbs up" and follow me to get instant notifications of my posts.
As always, please use sound money and risk management in all your trades.