Sunday, November 27, 2011

Daily Forex Trading Commentary AUDUSD in focus

The AUDUSD is moving towards 0.9400 support. it  lost modest ground on Friday over Thursday close. We still see weakness as the dominant theme in this market and will watch any rotation into resistance for price action sell signals to re-join the downtrend. We can see support sits near 0.9400 and resistance comes in between the 8 / 21 daily EMA layer.
AUDUSD
So set Sell stop @ 0.96630, take profit @ 0.93898, stop loss @ 0.97842

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