AUDUSD: Bearish Stocks and Trend Breakout
Updated
Hey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.66000 zone, AUDUSD was trading in an uptrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 0.66000 support and resistance zone.
We would like to consider the current bearish bias on stocks, due to the positive correlation AUDUSD should trade under pressure.
Trade safe, Joe.
We would like to consider the current bearish bias on stocks, due to the positive correlation AUDUSD should trade under pressure.
Trade safe, Joe.
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Decent pullbacks approaching the retrace area, we are 10 pips far now!
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Decent rejection is happening from the retrace area
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According to the NY Fed's inflation expectations survey, the one-year outlook is at 3%, while the three-year forecast is at 2.3%, the lowest level since 2013.Trade active
Strong employment report from Australia
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