The aussie has been bearish so far this year, and rightly so! We must consider that whilst the US Reserve Bank has talked about cutting rates they have just had a Jobless Claims print lower than the last few decades, signaling that the US economy is going well.
In addition, we must consider tensions in Red Sea and the middle east are disrupting trade, and when there are tensions the world looks to USD.
Technically, price has been in a bear market this year, and has just bounced out of the first fibonacci resistance. It is also hovering below the 200 hour moving average, which has been trading down this year.
In addition, we must consider tensions in Red Sea and the middle east are disrupting trade, and when there are tensions the world looks to USD.
Technically, price has been in a bear market this year, and has just bounced out of the first fibonacci resistance. It is also hovering below the 200 hour moving average, which has been trading down this year.