Following Friday's NFP data, calls for FED rate cuts are still in the air. And I agree with an ING article suggesting USD strength can be sold.
Combined with just published 'higher than forecast' AUD service PMI data. I think AUD USD long is worth a go.
It's a 12 pip stop loss with 18 pip profit target up to recent highs.
The risk to the trade is Chinese data or simply USD strength. If the trade is ongoing, I will make a decision tomorrow whether to 'hold' the trade through US ISM data.
Combined with just published 'higher than forecast' AUD service PMI data. I think AUD USD long is worth a go.
It's a 12 pip stop loss with 18 pip profit target up to recent highs.
The risk to the trade is Chinese data or simply USD strength. If the trade is ongoing, I will make a decision tomorrow whether to 'hold' the trade through US ISM data.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.