Time To Drop The Aussie? Yeah nah yeah
Alright the AUD has had a short bearish rally and stalled. Now retracing, we are faced with the question: Is this a new trend, or just a pullback in the bull market.
Bullish factors:
- Bounce from the 50D moving average
- Yesterday closed bullish
- RBA has addressed that further interest rate hikes will be needed
Bearish factors:
- Potential pricing in of future rate raises into the market already
- Recession, strong US jobs data
- 1H chart entered a bearish market
- broken double top neckline
Comment what you think!
I am going short here but we shall see what happens.....
Bullish factors:
- Bounce from the 50D moving average
- Yesterday closed bullish
- RBA has addressed that further interest rate hikes will be needed
Bearish factors:
- Potential pricing in of future rate raises into the market already
- Recession, strong US jobs data
- 1H chart entered a bearish market
- broken double top neckline
Comment what you think!
I am going short here but we shall see what happens.....
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.