AUD / USD December 6, the latest trading strategy
The previous session, the Australian dollar / dollar climbed all the way to 0.7653, after which a sharp retracement of the decline, taking most of the gains, and ultimately to a long upper shadow narrow solid Yang Xian closed up 0.7605, indicating that the exchange rate retreat from highs The intensity of the larger.
Tuesday (December 5) iron ore lower, and copper prices suffered a lot of selling, the basic AUD / USD did not help, then the exchange rate may continue to be under pressure.
1 hour and 4 hours technical indicators turn lower, the daily chart indicators higher, the weekly chart indicators turn lower.
In terms of trading strategies, the third-quarter GDP of Australia will be announced shortly after the trading day to decide the AUD / USD short-term direction, but the overall trend is still short due to approaching the Federal Reserve's next monetary policy meeting. Therefore, AUD / USD is expected to rise further, but gains are limited and short rallies are still under planning.
Trading strategy, the trading day proposed to sell Australian dollar at 0.7630 / USD, stop loss at 0.7660, the profit is still set at 0.7550 node.
The next 24 hours, the Australian dollar / dollar partial rallies short, but the medium-term trend remains bearish.