Aussie / Usd finally looks to be coming under pressure. Although we have support at 1.0465/55 the daily charts do show weakness building and we can see a break of this support which would lead us lower to 1.0425 initially with 1.0370 trendline support coming into focus...Also we have 1.0369 as the first med term 23.6 Fib level thus offering double the support.
We will see buyers in at these lower levels thus cover any short positions. Only below 1.0340 will there be further selling pressure with 1.0285 then targeted.
Now we may just hold 1.0470/55 on this dip lower...If we do..great...it means the market should rise towards 1.0525 and this is where we will get short once more...We hold shorts, adding to position, unless we break 1.0565.