Technical Confluences:
Fundamental Confluences:
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I have also taken a Short position in the
AUDUSD trade and monitoring that the Resistance trendline and Interest Zone don't break.
Within the Orange Zones, I will look to add position if I see further support that the Resistance will hold
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- Price is at Overbought conditions Daily timeframe
- Price action is close to a resistance trendline and entering an Interest Zone
Fundamental Confluences:
- Very similar to the
NZDUSD posting I did, all other Central Banks in the DM space wanting to cut rates, it negates off the yield premium that NZD would be getting against USD - Market is consolidating after all the USD sell-off and profit-taking mood before NFP is likely to happen
- AUD being a commodity currency is greatly affected by China's economic performance and it is currently still looking bleak
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I have also taken a Short position in the
AUDUSD trade and monitoring that the Resistance trendline and Interest Zone don't break.Within the Orange Zones, I will look to add position if I see further support that the Resistance will hold
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Disclaimer: The personal opinion above does not constitute as an investment advice. Any trade decisions taken based on the above opinion is purely at your own risks. DYOR.
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.
Disclaimer: The personal opinion above does not constitute as an investment advice. Any trade decisions taken based on the above opinion is purely at your own risks. DYOR.
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.