AUD/USD: End To Higher Daily Lows
3cAnalysis | Oct 30, 2014 07:02
Bullish signals for the AUDUSD in each of the last 2 days have been confirmed, investors buying the market on Wednesday to post an initial gain of just over ½ Big Fig. The rally since this month’s 4 year base is probably corrective and following yesterday’s 4 week high above .8900 the Fig,
investors sold the market late in the New York session for sentiment to deteriorate by over 1 ¼ Big Figs from the top. Further losses in Asia keep signals pointing lower and the outlook for Thursday is to sell on the open and at .8791, with a stop loss at .8815, a 38% recovery to the losses posted since yesterday’s high.
Targets are to .8755, today’s Asian low, .8719, last week’s base and .8687, the 16th Oct low trade.
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