AUDUSD: Good pair to trade with current fundamentals
I'm very bearish in AUD, fundamentally I think there's a chance we'll see another pause from the BoA this week.
I see a strong US and though this may not play out in DXY, against weaker pairs the USD should show its current strength.
Even before that, with short term USD strength and a weakening Australian Dollar I think we'll break through resistance and out of this sideways channel.
I think we have a double top on the daily, we need confirmation below current levels (neckline break) and with that we could ultimately see falls to the 0.61 levels.
We've had a break of the rising trendline so will be looking to get in with a retest and LTF confirmation.
I see a strong US and though this may not play out in DXY, against weaker pairs the USD should show its current strength.
Even before that, with short term USD strength and a weakening Australian Dollar I think we'll break through resistance and out of this sideways channel.
I think we have a double top on the daily, we need confirmation below current levels (neckline break) and with that we could ultimately see falls to the 0.61 levels.
We've had a break of the rising trendline so will be looking to get in with a retest and LTF confirmation.
Trade active
Comment:
So far so good!
Trade closed manually:
Closing to bank my pips ahead of US NFP, Unemployment and Avg. Earnings today