Currently: Short Looking to: Cover @ 0.6158
As of 8/16/19 close: 0.6781
LAST WEEK: We suggested shorting up to 0.6851 with stops on a close above 0.7043 and with a downside target of 0.6158.
UPDATE: The AUDUSD cross spent last week working through an upside correction. At this point, it appears possible for a bit more upside to play out before the bear trend resumes. The possible upside ceiling for any continued bounce comes in at 0.6847. We would look to short bounces to 0.6847 with stops on a close above 0.6900 and with a target of 0.6158.