Aussie presents a nice setup towards the end of the week. As the pair is in downtrend, short positions are more likely from the current levels. Correction is possible towards 0.8890
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DailyOptionTrader
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AUDUSD advanced towards 0.8800 completing the descending channel formation. As expected, Aussie, bounced off the resistance and was trading lower since. We expect this trend to continue. We should see this market to break multi year lows in the coming weeks.
Only return above 0.88 would indicate further strength.
Only return above 0.88 would indicate further strength.