(1,0460) The AUSSIE confirmed a weak closing well below the support of the inside day at 1,0480 suggesting further weakness. In the s/t however we expect a rebound, especially while above the support line at 1,0450. The indicators of the daily chart are in negative territory suggesting further downside pressure; those of the s/t ones are also negative supporting further weakness. Bullish divergences in the hourly chart support a negative tone. We stay on the sideline for now but suggest avoiding short at the present levels!!
Click here to read the full report: AUDUSD 01.25
Future Trend Research