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AUDUSD Scalp Setup

Michael Boutros

I’ve been aggressively scalping the AUDUSD in the wake of last night’s RBA interest rate cut as the technical positioning of the exchange rate remains favorable for intra-day scalps with our directional bias weighted to the downside.

Today’s price action broke through key technical support barriers and warrants action as weekly and daily metrics turnover. Key initial objectives are eyed at 1.0240 and 1.0180 with only a breach above 1.0360 invalidating this particular setup. For a complete technical outlook and detailed scalp targets, refer to today’s Scalp Report.

---Written by Michael Boutros, Currency Strategist with DailyFX.com

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