AUD/USD: Oversold With Limited Downside
Jason Sen | May 25, 2015 02:58AM ET
AUDUSD getting oversold so the downside could be more limited today. However we could still break 7800 to test the best of the day support at 7785/80. Buy here, stop at 7755. Target 1 @7805 (trail stop to entry), target 2 @7835. A sustained break below 7780 however sees 7780/85 act as resistance to target 7725/20 then 7710/05. We could continue lower this week to 7680.
First resistance at 7852/57. Sell only small shorts, stop 7875. Target 1 @7825 (trail stop to entry), target 2 @7810, target 3 @7790. On a break higher sell @7895, stop 7925. Target 1 @7860 (trail stop to entry), target 2 @7835.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.