Fundamentally: growing monetary policy divergence between the Fed and RBA.
Technically: AUDUSD has broken the 2016 uptrend line.
A 38.2% correction from recent lows was to be expected, given the sheer pace of dollar strength.
The next leg is down to 0.70.
Perhaps the best trade going into 2017.
Technically: AUDUSD has broken the 2016 uptrend line.
A 38.2% correction from recent lows was to be expected, given the sheer pace of dollar strength.
The next leg is down to 0.70.
Perhaps the best trade going into 2017.
Trade active
In progress. Target 0.70Note
Partial profit (30%) taken at 0.72
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.