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pragmatiq

AUD/USD to test monthly support

Short
Australian Dollar / U.S. Dollar (OANDA:AUDUSD)  
pragmatiq Updated   
OANDA:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Chart Patterns Fundamental Analysis AUDUSD Fundamental Analysis dollar aussie
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trendanalysis chartpattern fundamental audusd funadamental dollar aussie
With US inflation and jobs data showing signs of strength, I think interest rates won't be cut as soon as once thought. Therefore, this is an opportunity for the dollar to rally. I think the Aussie could test monthly support at around .6330.

snapshot

Comment:
So far, it's moved from .6710 to .6570. There's a lot of room below and possible catalysts to push it down to the monthly support.
Comment:
Trade still in motion. I've been selling technical bounces on the way down.
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