AUDUSD - CURRENT SITUATION AND FUNDA & TECHNICAL BIAS
#AUDUSD
- Currently the MARKET SENTIMENT for AUD is slightly UP SIDE according to the MARKET SENTIMENT. Even now, if RISK ON for AUDUSD happens in the near future, it can definitely go UP. Therefore, AUDUSD currently has an UPSIDE BIAS.
Several RBA HAWKISH COMMENTS have been released. Also USD has become STRONG in short term with FED SENTIMENT. It will most likely be temporary. Therefore, STOCKS and COMMODITIES MARKETS are going down quite a bit. It is heavily influenced by the Australian dollar. And AUSTRALIA INFLATION DATA was very POSITIVE. Due to this, the RBA made a RATE HIKE.
- It is definitely possible to break the AUDUSD STRUCTURE and go up to the higher RESISTANCE LEVEL. Accordingly, AUDUSD can rise up to 0.7100 LEVEL. After that, if MARKET RISK OFF, AUDUSD can SELL to AUDUSD 0.6552 LEVEL if the MARKET SENTIMENT changes and STOCKS and COMMODITIES start going down. For that, the MARKET STRUCTURE should be BREAK. And RISK should be OFF.
- Currently the MARKET SENTIMENT for AUD is slightly UP SIDE according to the MARKET SENTIMENT. Even now, if RISK ON for AUDUSD happens in the near future, it can definitely go UP. Therefore, AUDUSD currently has an UPSIDE BIAS.
Several RBA HAWKISH COMMENTS have been released. Also USD has become STRONG in short term with FED SENTIMENT. It will most likely be temporary. Therefore, STOCKS and COMMODITIES MARKETS are going down quite a bit. It is heavily influenced by the Australian dollar. And AUSTRALIA INFLATION DATA was very POSITIVE. Due to this, the RBA made a RATE HIKE.
- It is definitely possible to break the AUDUSD STRUCTURE and go up to the higher RESISTANCE LEVEL. Accordingly, AUDUSD can rise up to 0.7100 LEVEL. After that, if MARKET RISK OFF, AUDUSD can SELL to AUDUSD 0.6552 LEVEL if the MARKET SENTIMENT changes and STOCKS and COMMODITIES start going down. For that, the MARKET STRUCTURE should be BREAK. And RISK should be OFF.
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