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Audusdtrade

AUDUSD - CURRENT SITUATION AND FUNDA & TECHNICAL BIAS#AUDUSD - Currently AUDUSD is going down very fast. The reason for that is the VIX UP and the strength of the dollar. A MARKET FEAR about the economic recession is currently underway. - Thus COMMODITIES are going down. It also affects AUSD very strongly. The Australian dollar was shown as the WEAK CURRENCY of CURRENCY STRENGTH. - AUDUSD can move further until it reaches 0.6670 LEVEL. And after that, if the MARKETS RISK is ON, you can definitely BREAK the TREND LINE in AUDUSD and BUY up to the 0.7212 LEVEL.
by benny_marshall
AUD/USD forms double bottom: 0.727 in sight? The AUD/USD daily chart formed a double bottom at 0.685 last week, a level reached by the pair in mid-May before rebounding to 0.727. A double bottom is a chart pattern that consists of two pretty equal lows separated by a tiny peak that creates a 'neckline.' It often occurs near the end of a downward trend and may foreshadow a positive reversal. The last time a double bottom happened was in December 2021, after which the AUD/USD pair rallied 10% to its peak on January 5th. This might potentially lead to a fresh advance to the 0.727 neckline, which, if broken, would confirm a bullish trend reversal. The governor of the Reserve Bank of Australia, Philip Lowe, stated this morning that more hikes are likely in the coming months after raising its main rate from 0.35% to 0.85% on June 7, exceeding market expectations of a smaller move. Inflation in Australia is expected to peak at 7% by the end of the year, according to the latest RBA's projections.
by Capitalcom
AudUsd- 0.7000-0.7050 is very strong ceiling nowLike all Usd pairs, AudUsd also has lost a lot of its value in the past 6 weeks( almost 10%). After reaching a strong resistance above 0.76 at the beginning of April, the pair fell hard and the recovery from the beginning of May was also met with strong selling from 0.73 resistance. Yesterday's test of 0.7+ was reversed hard leaving a very long-tailed Pin Bar on our daily chart and now the pair seems determined for further losses. I'm strongly bearish as long as the price is under 0.7050 and I expect a drop to 0.67 Sell rallies can be a good strategy in AudUsd's case
Short
by Mihai_Iacob