Mainly technical analysis
here, but I think the fundamentals support a break to the downside. I have an order in to short if it drops on opening with stops back above the channel support and the SMA
50, with limits set just above lines of support from earlier in the year. I'm hoping LIMIT 1 will be realised quite quickly, and looking to buy back 50% there, with LIMIT 2 with the other 50% of my position being a potential super score (in my books!) lower down. AUDUSD
's past performance suggests that if it tanks, it could fall down to that bottom line quite quickly. In my view, the fundamentals might help to accelerate the bears.
These are only my opinions. Comments, questions and suggestions are very welcome!