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Expect AUD/USD weakness at 0.7282 – deploy one touch binary puts

FX:AUDUSD   Australian Dollar/U.S. Dollar
290 0 6
We think nothing much has changed, so do not get bull tapped, in long-term this pair has still been downtrend.

One can observe that from current price on daily and intraday charts that has still been fragile to fall below resistance at 0.7282 levels several times in recent past.

The pair is inching shy over 21 day moving average curve. So, it may bounce back for sure but don't expect the sharp shoot up. One can carry bullish attitude in short term only after a decisive breach of 0.7282 and breach above 0.7363 in order to construct bullish strategies in long term.

Alarm to the bulls: Volumes are shrinking away on every price spikes.

To substantiate this view the RSI (14) on daily chart is inching near 60s that is now signaling some minor gains.

RSI's upward convergence with massive volume dips signifies bulls seem to be exhausted with their rallies.

While sustaining %K crossover near overbought territory on slow stochastic curve is also evidencing some minor rallies.

Overall, the major trend has been downtrend dominated by the bears with clear volume confirmation but short-term price jumps can also not be ruled out.

Considering the above aspects we recommend deploying one touch binary puts in our strategy in order to extract leverage on extended profitability. By employing 2w At-The-Money vega             puts one can multiply returns by twice, thrice or even pour returns exponentially. But do remember these are exclusively for speculative basis.

The prime merits of such one touch option are high yields during high volatility plays. Wider spreads indicates lack of liquidity. The spreads for one touch AUD/USD             options are constant time and barrier levels. Usually, such binary options for every change in 1 pip the relative change in option price 0.01% or even exponential at high implied volatility times. You can see that in charts how every dips would propel Vega             effects.
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