The A/U sliced through 0.865 support on the back of a strengthening USD and the fall with Gold. The close below 0.865 would support the 600+ pip Bear Flag brewing here.
A/U 30 min: yet again London and US traders would have been able to enjoy a low risk high return trading opportunity here:
A/U 4hr: price didn’t even really blink as it sliced through key support at 0.865:
A/U daily: a weekly close below 0.865 would confirm a Bear Flag breakout for me and suggest that 0.80 will be the main target:
There is AUD employment data today to monitor here and then RBA minutes and NFP on Friday. Chinese Trade Balance is on Saturday. I will then be looking for a test of 0.865 to enter short.