Aussie: Waiting the reaction around strong support.
Last week, AUDUSD is the most surprising pair which rallied 200 pips following previous rally week.
I haven't found a good explanation for this rally yet.
This week. lack of Australia data, market pays attention to US consumer spending data, so I think the rally of Aussie should be limited.
AUDUSD now stopped at strong support 0.7240, ceiling of Kumo cloud is at there too.
I think I should wait for the reaction of AUDUSD around this level. If AUDUSD excesses higher, a BUY calls, on the other hand, if AUDUSD rejects this level. A SELL calls.
I haven't found a good explanation for this rally yet.
This week. lack of Australia data, market pays attention to US consumer spending data, so I think the rally of Aussie should be limited.
AUDUSD now stopped at strong support 0.7240, ceiling of Kumo cloud is at there too.
I think I should wait for the reaction of AUDUSD around this level. If AUDUSD excesses higher, a BUY calls, on the other hand, if AUDUSD rejects this level. A SELL calls.
