The AUD bounced higher with the US traders today. Lots of talk about China’s slowing growth among institutional traders today…which one would think would negatively impact the AUD but experience has taught us to read the technicals and take the fundamentals in stride.
This is a very nice pattern with a higher low and continuation to the Asian session high. At the first sign of rejection above the Asian session high and a bearish candle following, we exit the trade.
Keep in mind that the North American traders are on DST this week and this one hour shift will have North American traders starting an hour earlier than last week until the end of the month when the UK and Europe move their clocks ahead.
Back tomorrow if we find a trade. A technical glitch yesterday prevented us from posting.
Good luck with your trading!
