AUDUSD Daily Outlook for 13th December, 2013 (Friday)

AUDUSD Daily Outlook for 13th December, 2013 (Friday)

Daily Chart

We saw today that it has a clear break down, but yet to reach major support . Until then, any retrace up we will be bias to short the aussie.

• nothing much to point out, Chart says it all, we need to hold support at this major area, otherwise we head south

Hourly Chart

Very successful Bearish Butterfly, We believe prices should go a tad lower and  prices to hit the 161.8 extension / 0.8900 handle and test these levels.  

• If we reach 0.8900 handle, we shall go long there for a rebound scalp. If that happens, stoch should diverge
• On the upside, we shall test the 0.90 handle and we shall be cautious shorting there if it goes there prior to Christmas.

Outlook Trade opportunity

For today, if we manage to test the .890 handle, we will play longs
#1 Long at .890-0.89060 - for TP1 20pips, TP2 40pips move stops BE

Risk Level - Medium - high ( we are bottom picking but picking at a major resis just for a scalp)

Tips -

Always take note of any economical news event on our provided calender below