AUD/USD Forex Signals

AUD/USD Signal Update

Last Thursday’s signals were not triggered as none of the key levels were reached that day.

Today’s AUD/USD Signals

Risk 0.75%

Trades must be taken between 8am and 5pm Tokyo time, during the next 24-hours period only.

Short Trade 1

• Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7664.
• Put the stop loss 1 pip above the local swing high.
• Move the stop loss to break even once the trade is 20 pips in profit.
• Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.

Long Trade 1

• Long entry following some bullish price action on the time frame H1 time frame immediately upon the next touch of 0.7493.
• Put the stop loss 1 pip below the local swing low.
• Move the stop loss to break even once the trade is 20 pips in profit.
• Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.

AUD/USD Analysis

The AUD has been quite bullish since this week opened, probably due to fairly positive economic data coming from the region today, but is having trouble breaking up past the new resistance level confluent with the round number at 0.7600, which was acting as support earlier last week. It now looks as if the price may have stalled here. In any case as it is a public holiday in the U.S. today, this pair is probably going to be fairly inactive until the Tokyo session later.