Hi traders,
The AUD has been offered these past weeks because of the impact of the noravirus on the Chinese economy.
The pair has found some support in this region and seems to be forming a wedge to the down side. We boxed off area where a range is likely to form.
Range plays should be taken to the short side, as a long play runs the risk of the bearish follow from the most previous leg.
Areas to take the pair short will be at key supply zones. .
All the best,
Aardall
The AUD has been offered these past weeks because of the impact of the noravirus on the Chinese economy.
The pair has found some support in this region and seems to be forming a wedge to the down side. We boxed off area where a range is likely to form.
Range plays should be taken to the short side, as a long play runs the risk of the bearish follow from the most previous leg.
Areas to take the pair short will be at key supply zones. .
All the best,
Aardall