AUD/USD – Volume Supply & Demand Nov 3, 2014
According to our Volume demand and supply analysis, the AUD/USD is in a (probably small) upward movement. As our analysis below indicates, the market had strong demand at about 0.8721 level, as it bounced off this level very quickly. Our recommendation would be to hold all buys until 0.8773, where the market showed a lot supply and it rebounded lower off this level.
Overall the Australian dollar is obviously in a downward trend, but holding up quite well with small rebounds, so any trade taken here on a buy should be short term as indicated in the analysis of the volume demand and supply. For those not currently in an AUD?USD buy trade, we would not trade until we see in our analysis again a large amount of supply on volume or a very large amount of volume buying AUD/USD