5.  AUDUSD – Trading the range Â
The Aussie is currently pushing up against resistance of 0.76 and a break will be a trigger to get long with an upside target of just 0.7750 (the top end of the range).
The failure to break 0.76 should see a drop back towards the bottom end of the range of 0.7150
Speculative futures positioning shows a clearing out of the longs; it also shows bullish divergence in that higher lows were made; thus a bullish bias can be justified. Â Overall technical view: Bullish bias; trigger is a break of 0.76, add on a break of 0.7750
Thanks for reading.
Twitter:Â Â @Callum_Thomas
Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
