AUDUSD 21st June 2013

The Aussie had been on a free fall mode since the last RBA rate cut, the pairs found some support at 0.9325 and showed some sign of retracement especially last Thursday (13th June) after the Employment Data released looks promising. But the minutes of RBA's June 4 meeting showed that policy makers said the Aussie may fall further as export price ease. And they also Repeated that the Bank still have room for further interest rate cut, this will make the traders more willing to sell instead of buy.

Thursday morning after the FOMC meeting, The FEDs suggested the long waited 'QE Tapering', and followed by dissapointing data from China HSBC Flash Manufacturing PMI, the pair continued its downtrend and made a new low. The pair is currently trading @ 0.9235, i personally think the pair is heading to 0.9000 level, i'm waiting for a nice pullback for my sell entry.

From the 1H chart, i will look for sell opportunity near 0.9310 area, risk 70pips, 1st target 70pips (Risk Reward 1:1) and 2nd target 140pips (RR 1:2). Lets see how it goes.

Here's the chart of the recent Gold Price movement.