Looking at the AUD/USD daily chart, it appears bulls have
run out of steam. AUD/USD's rally was fueled by the equity
market bulls. Massive USD injection in the market by the Feds
also led to a decrease in USD demand.
However, equity markets have started dropping once again and
that is clearly reflecting in AUD/USD's price action.
A strong break below the lower TL would lead to a sell-off in
AUD/USD very soon. Selling the rallies is my preferred approach
to trade AUD/USD
run out of steam. AUD/USD's rally was fueled by the equity
market bulls. Massive USD injection in the market by the Feds
also led to a decrease in USD demand.
However, equity markets have started dropping once again and
that is clearly reflecting in AUD/USD's price action.
A strong break below the lower TL would lead to a sell-off in
AUD/USD very soon. Selling the rallies is my preferred approach
to trade AUD/USD
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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.