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Lucas: Aussie heading down under
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Despite AUDUSD trading at six year lows Steve Lucas is carving out a plan to sell the pair. Weak Chinese data and a central bank determined to reduce the value of the currency combine to give the right background for a move lower according to Steve.
The pair is also trading below key 200, 100 & 50 day averages as well as 100 & 200 hour averages.
Selling at market and 0.7629
Stop: 0.7669
Targets: 0.7533 and 0.7500