Price fell sharply last week along side the Australian stock market, ASX200. In addition, the Japanese Yen has been gaining strength recently. Nevertheless, AUD could be exposed to further losses due to the ongoing correction in the stock market and trade wars.
Trade Step-ups:
Scenario One (Bullish Reversal): Price rejects a bearish breakout. Profit levels to look for are 81.500 and 82.500.
Scenario Two (Bearish Breakout): Price breaks key support level. Look for consolidation below 79.700
Trade Step-ups:
Scenario One (Bullish Reversal): Price rejects a bearish breakout. Profit levels to look for are 81.500 and 82.500.
Scenario Two (Bearish Breakout): Price breaks key support level. Look for consolidation below 79.700
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