The AUDUSD is on the move forcing sellers out in a textbook ‘short squeeze’

Currency Alert

AUDUSD

Currency Pair : AUDUSD

Current Price : 0.7926

Status : Watching for Continuation higher

And so it is that the ‘short squeeze’ on the AUDUSD continues to push price higher. Even though price is looking stretched and overbought, there is no reason why the Aussie can not extend higher to continue the pressure on the sellers. We do expect some contraction lower soon to bring in more sellers, but from there, we expect to see the squeeze continue and sellers forced back out of the market as price pushes higher. The price structure is strong with a solid base so the squeeze should have a lot further to run with the next stop up around 0.8165.

 

Previous Alert 17/7/17

Currency Pair : AUDUSD

Current Price : 0.7812

Status : Watching for Continuation higher

The AUDUSD kicked on strong as expected since the alert on the 5/7/17. The price action was textbook and squeezed out the sellers into resistance at 0.7835. We are now watching for a washout of this level and a pullback to build another higher low. From there, we are expecting continuation of the move up as the sellers are still stacked up ready to fuel the move.

 

Original Alert 5/7/17

Currency Pair : AUDUSD

Current Price : 0.7608

Status : On watch for short squeeze

The AUDUSD is setting up nicely for a short squeeze as the sellers are stacked up. This may take some time to play out so we are now watching the lower timeframe charts for entries. Price may need to wash out s few buyers before starting a new leg up through 0.7835.