AUD/USD: Forecast January 27, 2015
Jason Sen | Jan 27, 2015 06:39AM ET
AUD/USD meets strong resistance at 7940/45 again today. Shorts need a stop above 7970. Be ready to go with a break higher using 7950/7940 support to target 7990/7995. Exit longs here and try shorts at 8015/8020 with a stop above 8040. An unexpected break higher however then targets 8070/75.
Failure to beat strong resistance at 7940/45 could trigger a move back to 7900/7895. If we continue lower look for 7873/69 then a retest of yesterday's low & support at 7850/45. Be ready to go with a break lower this week to target 7800 & perhaps as far as 7787.
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