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Aussie continues to be offered

al_dcdemo Updated 14 Jan.  in #Trader's blog #Support #Resistance #AUD/USD #Cycle Low #Labour Market Report #D1 Chart #Offered Tone
Australian currency continues to be offered. It so far declined more than a cent from yesterday's high, though it has moved mostly sideways during the past couple of hours. Marginally better than expected labour market report didn't manage to turn the sentiment around.
Cycle-low, set last September near 0.6910, is within reach of few pips and is an immediate support ahead of the April 2009 low (~0.6850) and 0.68 level. Broken 0.6950 level (also previous day and week low) is now acting as a solid…
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Aussie tests lower end of the range

al_dcdemo Posted 31 Mar.  in #Trader's blog #AUD/USD #Aussie #Momentum #Pause #Pboc #Cycle Low
Despite dovish comments from PBOC governor Zhou over the weekend, Aussie fell more than 100 pips yesterday. The decline stalled on the trendline that was broken last Friday, but the momentum of the move suggests that this may be just a temporary pause before further falls. Weekly Support 2 at 0.7618 and 0.76 level should lend it some support before cycle low at 0.7560.
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