Get Your Aussie Bottom Dollar

FX:AUDUSD   Australian Dollar/U.S. Dollar
29 0 0
Last week trend continued with flight to greenback as the chosen safe haven, dumping riskier assets. The obvious trade is to still short the Aussie, but it will be prudent for a trader to always get the best price and with the currency trading within a well define channel it is near the lower extremes of that channel highlighted in red.
In connection with the DXY             reaching and trading near longer term supply levels around 96.00, and dollar rallying heavily leading up to next weeks FOMC Fed meeting this could be a Buy the rumor sell the news scenario and the pair could see some reaction giving the AUD a rally to enter back short near the .80 lvl             1 target if we see signs of strength look for stops above .83 to be run.
All In the context of adding short positions longer term if we see failure. Heading lower.77 cents imo             would be the proverbial line in the sand if we are to see a rally or not. If we break .77 look for prices as low as .70. currently trading at long term support .62 fib lvl             from 10/2008 lows to 2011 highs which is a good lvl             to consider short term long even more important Currencies like to find equilibrium, we are trading exactly at the .50 retrace fib drawn from 2001 lows. Basically we are at an important lvl             here around .77-80cents
Sell Rallies........ Don't chase             price
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