AUDUSD is tricky to say the least. The move from the highs is fairly slow and in a very small channel which may give an impression of a weak move. However, next week things may change as a lot of Australian data is scheduled to be released. On Friday with the help of NFP the pair managed to pull off a nice false breakout and because of that I am looking for higher values but I keep my bearish bias in bigger picture. The area of interest is between the two green lines which I hope price will reach as it would give me enough data to plan my next move.
Comments
ForceFollower
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I like your comment. Me, I'm bullish.
capitalpropertiesfx
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Indeed, it looks better for bulls right now. Bears, who got triggered by this spike lower, probably hold their stops above recent highs (around 0.9320 roughly) so I don't even consider shorting the pair before we get back above 0.9300 (minimum).