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25 May 2015
AUD/USD downside might stay limited today – DayTradeIdeas
FXStreet (Barcelona) - Jason Sen of DayTradeIdeas, views that AUD/USD remains oversold, which suggests that the downside for the pair might be limited today.
Key Quotes
“AUDUSD getting oversold so the downside could be more limited today. However we could still break 7800 to test the best of the day support at 7785/80. Buy here, stop at 7755. Target 1 @7805 (trail stop to entry), target 2 @7835.”
“A sustained break below 7780 however sees 7780/85 act as resistance to target 7725/20 then 7710/05. We could continue lower this week to 7680.”
“First resistance at 7852/57. Sell only small shorts, stop 7875. Target 1 @7825 (trail stop to entry), target 2 @7810, target 3 @7790. On a break higher sell @7895, stop 7925. Target 1 @7860 (trail stop to entry), target 2 @7835.”
Key Quotes
“AUDUSD getting oversold so the downside could be more limited today. However we could still break 7800 to test the best of the day support at 7785/80. Buy here, stop at 7755. Target 1 @7805 (trail stop to entry), target 2 @7835.”
“A sustained break below 7780 however sees 7780/85 act as resistance to target 7725/20 then 7710/05. We could continue lower this week to 7680.”
“First resistance at 7852/57. Sell only small shorts, stop 7875. Target 1 @7825 (trail stop to entry), target 2 @7810, target 3 @7790. On a break higher sell @7895, stop 7925. Target 1 @7860 (trail stop to entry), target 2 @7835.”