SMA200 is now on the head of price.
Underneath the price, the provides support.
The blockade is gradually tighter. A/U must choose the trend.
- 1 is , pierces SMA200 and goes further to 0.94
- 2 is , break , and down to 0.87
This week, there is no Australia economic data, so the price move will be governed by US economic data. There is 80% possibility is US data would be positive.
Theoretically, if US economy is good, USD will be stronger,USD is bought, it means A/U falls down.
But don't forget that AUD is the most risk currency. When global economy is good or positive, AUD is bought because investors want to get profit from risk currency. Hence, even US economy is positive, USD is still sold, it means A/U still goes up.
Hence, I will wait until A/U breaks a key resistance or
If A/U breaks SMA100, I LONG A/U to 0.93 level.
IF A/U breaks , I SHORT A/U to 0.88 level.
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