Today in forex trading the AUD/USD had a sell signal. The overall market had consistent US Dollar (USD) strength on all pairs. The JPY (Japanese Yen), AUD (Australian Dollar) and NZD (New Zealand Dollar) were also somewhat weak, contributing to the price movement on these pairs. The AUD/USD dropped and the next nearby support level is around 0.7700. As this pair approaches this support level we would scale out lots on any sell positions. Due to today’s market conditions the NZD/USD also dropped and the USD/JPY rose. The live AUD/USD trade signal you see below is from The Forex Heatmap®, which provides trading signals for 28 pairs, including the major USD pairs.
AUD/USD Trade Signal 5-26-2015