DAILY SPOT AUDUSD - Tuesday's call and technicals
Although June’s bounce has been signalled as potentially corrective, the absence of a sell signal has kept this week’s outlook cautiously positive. However, sellers returned to the market on Monday from close to the 100 day average rate, sentiment ending a sequence of 8 higher daily lows in a row with losses of over ½ Big Fig. This is negative, but the pullback may also be corrective. For Tuesday though signals continue to point cautiously lower and the call is to sell on the open and then at .7010 with a stop loss at .7037, yesterday’s high. Targets are to .6966, today’s opening trade in Asia, .6941, the 25th June base and .6903, the 21st June low trade.
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