AUDUSD Technical Update – Inside Day Breakout
AUDUSD Technical Update – Inside Day Breakout
Our previous AUDUSD update highlighted an inside day at key 1.0600 area resistance.
The breakout of this inside day has now seen the AUDUSD drop under the 1.0500 handle round number area and the ascending trend line.
Large specs had cut the net long AUD FX position by around 9% on the weekly basis according to the latest CFTC data.
See the following AUDUSD D1 chart:
