AUD/USD pressured but still looks constructive

17 במאי

With the yuan and yen offered, so too is the AUD/USD, pulling back from multi-month highs hit Thursday. Despite recent weakness, buying dips is preferred to selling rallies as long as risk appetite holds up. Given the proximity to former resistance at .6442, traders could buy ahead of the level with a stop below for protection. .6712 would be the initial target with .6730 after that. Both momentum and price remain in their respective uptrends, bolstering the bullish case