DislikedI think good sell area will be form 1.0420 to 1.0440
AUD/USD
Any one agree on that >>Ignored
you may want to wait for chinese GDP to come out in 5 hours first since AUD is chinaa's number one trade partner. If GDP is good, AUD will continue to go up, if not well then it will only down.
Check out this piece of information from forex crunch.
- Within expectations: 7.0%to 7.8%: In such a case, AUD/USD is likely to rise within range, with a small chance of breaking higher.
- Above expectations: 7.9% to 8.3%: An unexpected higher reading can send the pair above one resistance line.
- Well above expectations: Above 8.3%: Given the current trend, the likelihood of a sharp expansion is low. Such an outcome would push the pair upwards, and a second resistance line might be broken as a result.
- Below expectations: 6.5% to 6.9%: A sharper decrease than forecast could push AUD/USD downwards and break one level of support.
- Well below expectations: Below 6.5%: A very poor reading would likely hurt the Australian dollar. This outcome could push the pair below a second support level
You could read the article here also http://www.forexcrunch.com/audusd-tr...chinese-gdp-2/
I actually wanted to long again, due to what I have been reading as a positive GDP reading coming out today, but I am not sure, anyone know whats the best way to trade the GDP news coming out?