Near Term Trend: Neutral
Friday’s Close: 0.73804 (- 120)
UPDATE: Two weeks ago we recommended booking profits on the remaining long position, and stated, “A settlement above 0.74060 would be the impetus to go long once again (ie, only buy on strength)”.
As of this past Tuesday the Aussie settled at 0.74500, therefore we are long at that level.
Keep stops (U.S. trading close only basis) at 0.73590.
That level is just under Friday’s settlement and most likely could get elected.