Aussie: Maintain Short, but beware of correction Short
Australian Dollar/U.S. DollarFXCM
Description
⋅ This week, main focus for AUDUSD are:
- US Payrolls
- Australia GDP
- Aus Retail Sales
- Aus Trade Balances
I maintain bearish bias for Aussie in the context that USDollar begins to regain its strength.
SMA200 sharps a strong resistance at 0.7250
But I see an unusual signal in Stoch Indicator: Lying in oversold zone for three weeks.
Aussie needs to escape the oversold zone to fuel for next move.
A correction should occur then move down again.
0.7250 is a good point to place a SELL Limit position.
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