Good chance to short this from current price. It looks to have broken support and is retesting it, expect to drop from this retest. MACD and EMA's have this still bearish after initial rejection of the breakout. Target is next support at 1.4233
This is at a support level and I am expecting it to rise slightly from here before breaking through. It is too risky to enter before it breaks the support but if it does then a short can be entered on a retest of this level which would then be acting as resistance. Target would be 1.4232
Fundamentals:- There was good data from Australia today even though the RBA (Royal Bank of Australia) did not raise interest rates the rhetoric was positive about wage growth and inflation. Retail sales rose to 0.5% above the expected 0.3% giving a boost to AUD.
Technicals:- After some morning long positions traders have taken profits allowing the price to fall...