Technically, we're at a major trendline
, 200 ema
, and key resistance area
. We are also retesting a small broken counter trendline
. Stocks are also starting to turn, which at the same time the YEN is starting to gain some strength from a fundamental and technical perspective. At the time I think we could see some what of a sell off in OIL
, etc, which will help drive down the AUD some more. This should be a great trade and it offers a great risk/reward.