Good commodity prices like iron ore and strong economic data have carried the aussie dollar over the past couple of weeks. We can expect a good pull back as we move into a well respected technical zone, confirmed by a head and shoulders formation indicating some exhaustion. We may see the market move side ways as all eyes are on the US jobs data later this week.
Looking to see the corrective move complete from the recent Britex burst.
Bears are likely to step in at the next level of resistance @1.1168 , I have placed a limit order @1.11603 (I front run my orders).
If the Bears fail to step in then i'll look to get in again within the resistance zone.
.5% risk on the table as I anticipate this a be a swing point...
