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AUD/USD Put Signal 13 Apr 2016

Signal details
Entry Price: 
0.7665
Close Price: 
0.7654
Expiry Time: 
20:00 GMT
Result: 
ITM
How we trade
5/5 of 2 ratings

The AUD/USD has drifted lower as speculators are taking profits on their positions amid an overnight rally after better than expected Chinese data. With a broad based U.S. dollar rally that we are seeing this morning, the chances for a pullback in the Australian dollar pair are seen as substantial.

The AUD/USD rate at which we are looking as key is 0.7670. We would be buying daily put binary options on that price with an expiration centered at the end of the day at 20:00 GMT. Looking at the current market action we would be keen to post a trade if the rate goes to 0.7665. The key event risk going forward is the retail sales numbers from the U.S at 12:30 GMT.

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.