AUDUSD possible long

20 thg 7, 2017

Expectation of a slight rise in Aussie unemployment from 5.5% to 5.6% triggered a pullback in the recently enthusiastic AUDUSD. RBA remains positive on their outlook on the economy and a rate hike is not currently expected this year (dependent of course on the FED).

Idea: Short the news and buy the facts. The Aussie is in a strong uptrend and unless there is significant changes in economic outlook, there is no reason to short for more than a retrace. The short move today covered expected downward pressure from the unemployment news. Price should stabilize and return to trend from here... it the bottom holds