Sforex

Aussie: Waiting the reaction around strong support.

FX:AUDUSD   Australian Dollar / U.S. Dollar
172 0 3
Last week, AUDUSD             is the most surprising pair which rallied 200 pips following previous rally week.

I haven't found a good explanation for this rally yet.

This week. lack of Australia data, market pays attention to US consumer spending data, so I think the rally of Aussie should be limited.

AUDUSD             now stopped at strong support 0.7240, ceiling of Kumo cloud is at there too.

I think I should wait for the reaction of AUDUSD             around this level. If AUDUSD             excesses higher, a BUY calls, on the other hand, if AUDUSD             rejects this level. A SELL calls.

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