Weekly trend on this pair is still down, but there was lower Bollinger band break out and retracement candle, then we got double bottom and now we have neck retest at 38% Fibonacci retrace. There is also divergence on weekly chart so something is cooking here.


When moving to daily chart we can see that price is somehow rejecting 21 EMA = red line and neck line = blue horizontal line. Next resistance we see at 89.50, so almost 300 pips from here, which could give us good RR if our stop loss will be round 110-150 pips, which was yesterday daily range.


There are Employment Change and Unemployment Rate news in Australia in future 12 hours, in Japan there are few middle level news.

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