Danger Ahead for the Aussie
Whilst grinding lower, the Aussie has failed to make significant headway to the downside.
A sharp selloff on Friday was met by equally large demand, erasing the entire move as the Aussie went Bid.
Whilst we understand that the majority of major inflection points are not always pretty, clean cut breaks, Friday's development indicated that the AUDUSD market appears to be in equilibrium for now.
Whilst maintaining our short bias, we see any significant bids up to 0.9300 levels as a huge red flag in terms of future direction.
A sharp selloff on Friday was met by equally large demand, erasing the entire move as the Aussie went Bid.
Whilst we understand that the majority of major inflection points are not always pretty, clean cut breaks, Friday's development indicated that the AUDUSD market appears to be in equilibrium for now.
Whilst maintaining our short bias, we see any significant bids up to 0.9300 levels as a huge red flag in terms of future direction.
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