AUDUSD: BEARISH DESCENDING TRIANGLE 🔻
BIAS: BEARISH 🔻
TECHNICAL PROJECTION: BEARISH
On the H4, we have a bearish bias that price will retest "B" & "D" area and to continue further bearish to 0.6665 target to complete its "e wave" from the bearish descending triangle pattern.
FUNDAMENTAL PROJECTION: BEARISH
DXY STRENGTH: Market could be pricing further 75bps hike tightening to come & balance sheet reduction to continue at $60b & $35mbs over the three month timeframe.
As price is currently retracing, look for a retest of 0.6800 before a move lower could be possible.
BIAS: BEARISH 🔻
TECHNICAL PROJECTION: BEARISH
On the H4, we have a bearish bias that price will retest "B" & "D" area and to continue further bearish to 0.6665 target to complete its "e wave" from the bearish descending triangle pattern.
FUNDAMENTAL PROJECTION: BEARISH
DXY STRENGTH: Market could be pricing further 75bps hike tightening to come & balance sheet reduction to continue at $60b & $35mbs over the three month timeframe.
As price is currently retracing, look for a retest of 0.6800 before a move lower could be possible.
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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.