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Scalping Strategies in AUDUSD

Scalping Strategies in AUDUSD

Michael Boutros, Strategist

AUDUSD- Near-term Bullish- Long-Term Bearish

I’ve been aggressively scalping the aussie since the break above 1.0415 (50% Fib Ext) While our short-term objective took us higher, our longer term remains weighted to the downside. As such we look for the AUDUSD to come off early next week after testing topside resistance at the April highs today at 1.0480.

Click here for the Daily Chart

Click here for the Scalp Chart

---Written by Michael Boutros, Currency Strategist with DailyFX.com

Join Michael on Monday morning for a Live Scalping Webinar on DailyFX at 1230 GMT (830ET)

To contact Michael email mboutros@dailyfx.com or follow him on Twitter @MBForex

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