Entry - 0.7274 Take Profit - 0.7144 - 130 pips Stop Loss - 0.7342 - 68 pips
Lowe made it clear that not only is RBA OK with a weaker Aussie, they are welcoming and expecting it. Plenty of AUD bulls are trapped on a long push following news that CNY will be propped and are ready to continue to buy (Myfxbook has 81% long). I have a (very small) short position open from 0.7333, but wanted to add more on a retest of the 30EMA (4h). We're at that level now. There was a solid breakthrough of the 0.7357 support zone back on 08/10.
I'm looking to hold this on for a while yet. My stop loss is above the Ichimoku cloud (4h) and the previous support zone. I'm expecting this to be an interesting ride. Will update as necessary.