AUD/USD: Holding Below 7900/7895
Jason Sen | Jan 29, 2015 12:58AM ET
AUD/USD holding below 7900/7895 keeps the market under pressure to target 7873/69 then retest this week's low & support at 7850/45. Be ready to go with a break lower to target 7800 & perhaps as far as 7787.
Above 7900 is less negative for now & opens the door to first resistance at 7935/40. Try shorts with stops above 7955. On a break higher however we meet strong resistance at 7995/8000 to try shorts with stops above 8025! However be ready to go with a break higher using 7995 as support to target 8040 & perhaps as far as strong resistance at 8080/85 for a selling opportunity.
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