- Our Clients
- Futures Platforms
- Trading Systems
Session close: Settled at .7602, down 66 ticks
Fundamentals: The Aussie has gotten throttled over the last three sessions losing 2.3%. Not only has the U.S Dollar strengthened against all major currencies, but it has also weighed tremendously on the commodities sector. The reversal in the Aussie began Wednesday night after a poor Employment read and has continued sharply. The Assistant RBA Governor Kent speaks at 5:00 pm CT and CPI data is due 8:30 pm CT.
Technicals: The Aussie is the only currency that we introduced a slight Bearish Bias in last week. We have been hesitant to do such because of our long-term bearish U.S Dollar thesis, however, the technicals here were just too weak. Price action is now at the lowest level since December and there is nothing between here and major three-star support at .7501. We have now upped our Bearish Bias and will remain such until a close back above .7644.
Resistance: 7644***, .7695-.7709**, .7799-.7813***, .7921.7944***
For more information please contact DAW Trading at firstname.lastname@example.org or at 877-329-0006 and visit us at https://dawtradingdiv.com/brokers-edge/
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. DAW Trading (“DAW”) uses various outside sources for research material regarding futures and options on futures trading therefore the views and opinions expressed in this letter may not necessarily reflect the view of DAW or its staff. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to DAW.