AUD/USD: I just bought AUD today at 0.96708 hopefully it go up to target 0.9800-0.9850 area will gain 129 Pips or 179 Pips. Anyway, I set limit to 0.9830 at this moment and I'm looking for 159 Pips. suggest that the market is near a major top so you also can place short order right now depands on how you reserve with your margin. I also place a SHORT AUD/USD order at 0.9850.
At this point, a retest of the multi-year highs by 0.9850 from 2008 seems likely, with the market locked in an intense uptrend over the past several days. However, I think there are showing overbought and warn of the need for a corrective pullback. So my strategy would be to look to sell into any rallies above 0.9800 and towards 0.9850, or on a close back below 0.9620.
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