On D1 chart AUD is neutral on 3 pairs, still barely negative on 3 pairs , positive on 1. That is +2 for AUD to fall further. AUD index is on multimonth lows as well. All this tells me - AUD can fall further down but potential is limited. The outlook for AUD is poor due to China-US talks, low Australian economy growth and a potential rate cut by RBA.
All in all - AUD down, yes but I would not give it 100 pip SL. A max 50 pip SL and Sell only if price breaks 75.3 support and confirms with next candle on H1 or H4.
khansalarehsan
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@Erland, As always great analysis mate. Thanks for sharing your thoughts. I agree
UnknownUnicorn2012266
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yen is over reaching no ? :) --- a violent squeeze in order may be
khansalarehsan
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@ntabish12, It is mate. I see a fall in SPX to continue. Also check out Nikkei. Pulling off EMAs for both ... D1
UnknownUnicorn2012266
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@khansalarehsan, yes sir, still this is too tasty squeeze to left alone :D ---if i had that kind of $$, i know i would surely do it ---but you are absolutely right about everything in line with SPX (which may rebound here) asia already down today so its lined up
All in all - AUD down, yes but I would not give it 100 pip SL. A max 50 pip SL and Sell only if price breaks 75.3 support and confirms with next candle on H1 or H4.