Aussie: Maintain Short, but beware of correction

29 May 2016

This week, main focus for AUDUSD are:

- US Payrolls
- Australia GDP
- Aus Retail Sales
- Aus Trade Balances

I maintain bearish bias for Aussie in the context that USDollar begins to regain its strength.

SMA200 sharps a strong resistance at 0.7250

But I see an unusual signal in Stoch Indicator: Lying in oversold zone for three weeks.

Aussie needs to escape the oversold zone to fuel for next move.

A correction should occur then move down again.

0.7250 is a good point to place a SELL Limit position.

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