Trading Outlook: AUD/USD
Originally Updated: 06:10am
Currency Pair: AUD/USD
In today’s trade set up we will be focussing on short term buying opportunities on the AUD/USD.
We are looking for buying opportunities on the AUDUSD today after business conditions in Australia gained by the most on record, taking this into account and the poorer than expected employment figures from the US last Friday I think we could see a short term pop up in the AUD/USD. U.S markets should see light volume today with the banks being closed in observance of Veterans Day.
We have a nice confluence zone at 0.8565-0.8555. This should offer short term support for any pullback.
Stop loss could be placed at 0.8525
Take profit target: 0.8608
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