Weekly Trade Ideas: AUD/USD, EUR/USD, GOLD, S&P 500
Posted: Sun May 08, 2016 6:52 am
AUD/USD weakness continues
Early last week in our commentaries we were discussing the potential for price to continue to fall in the AUD/USD following the large bearish reversal that took place on May 3rd after the RBA cut rates. We remain bearish (downward) biased this week and our view is to look for selling opportunities whilst price is below 0.7490 key resistance.
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We will be looking for an opportunity to sell this pair at that resistance or nearby ... (read more)