Currently: Short Looking to: Cover @ 0.6744
As of 7/12/19 close: 0.7016
LAST WEEK: We suggested shorting at 0.7033 with stops above 0.7050 and with a target of 0.6744. We further noted we would get long at 0.6744 with stops below 0.6700 and with a target of 0.7300.
UPDATE: The AUDUSD cross is correcting higher and could make it a bit higher than we anticipated in recent reports. We now believe AUDUSD might make it up to either 0.7085 or 0.7148 and then turn lower in convincing fashion. We would be selling remaining longs and getting short near 0.7085 with stops honored on a daily close above 0.7160 and with 0.6744 as the target.