Aussie Heading into Support around 7530-7500!

We are getting close to Aussie Support at 7530. I will start a long position after we form a bullish pattern and turn back up inside the channel. This pair lacked follow through when dollar was stuck within consolidation. As long as there is volatility in the dollar, after we hit areas of retracement on USD, this could move back up into the channel. At this point, I am not yet writing Aussie off as a channel break for lower price action (at least not yet) because it still needs to hit the monthly .382. around .8382. Even though I believe that dollar is moving to the bottom of the fourth wave retracement and we will have stronger price action north for this week, I still think that we will eventually get a bounce that will send us back up into the channel and then eventually to price action areas higher on the chart above .80 - so stay tuned and be patient. FX gives you great moves, but it gives when it wants and how it wants..not always when we want. Thanks!

Trade active:

I am going to remove one at the 7580 price point on this aussie for 45 pips and pull into 7545 with the rest of it. Will update on Monday. Thanks everyone for a great week!

Trade closed manually:

as per the above this is break even and out for 45 still showing weakness.