Looking at the Aussie dollar and other xxxusd pairs we can see that price has rejected key lows across these pairs, whilst the DXY on the other hand has shown signs of weakness (medium term) and has failed to break past key resistance of 95.000 and has formed a reversal pattern + divergence. Today we also saw the DXY breakout of the rising wedge. During the same time AU and NU broke past previous highs, producing a trend shift.
Although the long term outlook on the dollar is definitely bullish, considering the further rate hikes in 2018 and 2019. As well as the long term technical and fundamentals indicating further aussie weakness. We can capitalise on this medium term move, where we can see AU forming a lower high on the daily time frame.
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Although the long term outlook on the dollar is definitely bullish, considering the further rate hikes in 2018 and 2019. As well as the long term technical and fundamentals indicating further aussie weakness. We can capitalise on this medium term move, where we can see AU forming a lower high on the daily time frame.
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Personally do not think this movement will happen anymore. Not longing any pairs against the USD atm
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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.