FXStreet (Bali) - AUD/USD is trading just above the 0.9350 level, with price action still feeling quite heavy following last wweek's dovish language by RBA Stevens and upbeat US NFP.



According to Jim Langlands, Founder at FXCharts: "Having been bullish on the Aud recently, I now think it more prudent to take a neutral stance following the break of the rising trend support that has held firm since the Aud bottomed out in January."



Technically, Jim notes: "The dailies have now turned to look a little negative and it does look, as though it may be a sell on rallies. A rally back above 0.9400 though, would stabilize matters and if the Chinese data is constructive, the Aud could very easily take another swing higher."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Greek referendum: No vote? Watch 1.1031 in EUR/USD - JPMorgan

  2. Forex News

    Video: AUDUSD, GBPUSD and USDJPY Better Trade Options Than EURUSD

  3. Forex News

    Greece Referendum Makes for Big Headlines, Difficult Trading

  4. Forex News

    What to Expect From the Greek Referendum

  5. Forex News

    EUR/USD looks to Greece for direction

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!