The AUSSIE is confirming a nice extension of the correction after the weak closing last night. Overall it is however still interior Thursday’s when it formed an inside day with 1,0765 – 1,0370 still the levels to follow. A daily closing below the support will lead to a return toward parity!!
The indicators of the daily chart are still well positive but those of the s/t ones turned all below the line supporting further weakness. In the hourly chart we have however oversold conditions and a potential positive reversal situation that could limit further weakness, at least in the s/t.
Nevertheless we prefer remaining short for now especially while below the 200 hours line, now s/t resistance at 1,0468. We put however a stop at 1,0565 just in case!!
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FUTURE TREND RESEARCH