AUDUSD Short (Post RBA)
Fundamentals:
- Post RBA has been bearish for the Aussie, with Central Bankers stating their reluctance to normalise policies.
- Coupled with the USD increasing strength due to strong economic fundamentals and Fed rate hikes(In my opinion not fully priced in due to an idiot still sitting in the white house).
Technical side:
- Bounced off daily resistance level.
- Break of support level in RSI(14)
Risk:
- I came in fucking late, so yes expected upward retracement possible. Expanded Stop loss to cater for that.
Main Follow up actions:
- Monitor Australia economic indicators
- Fed's actions and US economic strength
- Post RBA has been bearish for the Aussie, with Central Bankers stating their reluctance to normalise policies.
- Coupled with the USD increasing strength due to strong economic fundamentals and Fed rate hikes(In my opinion not fully priced in due to an idiot still sitting in the white house).
Technical side:
- Bounced off daily resistance level.
- Break of support level in RSI(14)
Risk:
- I came in fucking late, so yes expected upward retracement possible. Expanded Stop loss to cater for that.
Main Follow up actions:
- Monitor Australia economic indicators
- Fed's actions and US economic strength
Note
Aussie trade balance shows good data and downward momentum is weak also due to weak FOMC minutes(indecisive on rate hikes). Possibly a small up movement in near future.Fundamentally still bearish on the AUD.
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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.
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.