Comeback of the AUD
FX Volume unleashed that the AUD long ratio rose by 10% during the past 24 hours
So let's have a look at the corresponding majors
AUD is still weaker than the USD but the Delta is decreasing.
In FX Power we can clearly see how strong the AUD really is currently!
The trends are tending to BUY as well and FX Trend provides us with a reasonable trend line stop loss on H1.
Due to the fact that the underlying majors are always the driving force behind any move on a cross pair
we have
to check the AUDUSD chart first
I marked our previous analysis steps in the chart and you can see that we have plenty of space without resistance levels.
On AUDJPY you'll see an example trade I took yesterday evening where the JPY was the trigger currency
Unfortunately, the other AUD pairs don't provide clear entries yet but they are definitely worth watching today.
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Daniel
