Australian did not lower rates as many were expecting. Price broke out of a flag consolidation to the upside a couple of days back.. Test of support at ~0.9270 was a success. Still too many shorts. . Heavy support in the .9200-.9270 range.
Trade: Long at .9400, Stop: Close below 8 day MA on , Target 1: .9500, Target 2: 50% Fib
Shorts are actually right. Australian is going to lower rates in the future. Primary trend is still down on the weekly. I am leaning towards the case. Unlike the trade below I am actually going to take Tier 1 size short early on a break below .93700
Trade: Short on close below .9200, Target: lows.