Day two: potential AUD/USD trade

Following on from my trade idea yesterday: on the hourly chart AUD/USD has broken through supply at 0.9250 and has the potential to rally to my suggested sell limit of 0.9270.

Data is fairly limited through Asia, although it will be interesting to look at price action in China given the market is seeing signs that the PBOC are more accommodative.

In the US we get the latest durable goods orders, while we also get Q1 S&P Case-Shiller House Price Index. Good numbers here could support the USD side of the equation.


The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.