Price bias continues to favor sellers rather than buyers
If we did not come over the 200-hour MA (blue line), we still emphasize that short-term bias in the pair is still more bearish and despite the fact that the dollar is struggling today, technical indicators do not lie.
I will not buy the euro and the recovery of the pound I see today – more than the latter, such as Brexit's titles, do not indicate that there will be an agreement, and therefore the dollar should only go beyond the flows.
On a two-day basis for the beginning of the AUD / USD week, it remains on the bottom and that for me a more accurate picture of things, such as what we see so far, is merely the retraction of the yesterday's price measure; in a way, traders are waiting for assurances from the US meeting (on a holiday yesterday) to confirm the moves that we saw yesterday.
For me, as long as the EUR / USD is below 1.1300, there is a good reason for the US dollar to stay on offer. And even more so when the pound fights with Brexit's worries. And in the case of AUD / USD, where the technical bias is greater, it points out that in this case, the negative move is still more likely.
If the price follows more than 200 hours MA and 100 hours MA (red line), then the near time bias turns more and then we can reconsider. But this is a low risk in terms of the levels we are currently trading.
For the sublime posture on AUD / USD, as at the beginning of the month, I think it is necessary to consider the September September break @ 0.7315 to do this. Otherwise, we are now at levels where sales near the technical resistant key (as above) are more attractive.