Sometimes it helps watching things the other way around. Critical area here for sure in Aussie, but if daily cycle topped in dollar, we should have at least 3-4 days until it reaches 98-97.60. If O/S reversal today, maybe this zone doesn't hold much and reach 97 area.
Hey, yes,let's see if it fails first. A weekly close will be positive >0.7620. Strong supply begins at .7850-90. Aussie not that weak against dollar currently. Friday night we will know more when closes. If it fails, then yes, short big. Your R1 area is good for shorting.
Agree, 7760 is the sweet spot for sellers and when the battle will take place probably. Commercials are net short -32K. Normally a number from 40K to 60K coincides with intermediate tops. Aussie also just began its best quarter seasonal wise. Cheers;-)
Hi gents, look4edge mate ;)...I'm currently long, my target is 0.8350 if we have a daily LOW above 0.7719 odds increase greatly. For now we're at the mercy of resistance from the Jackson Hole daily range, lots of supply around there:
Hey gents:-) If I add one more element to this derby is the possible bear triangle in copper. Keep an eye in case it breaks down. Also Chinese GDP number - even if fabricated- might help aussie here. Cheers!