AUDUSD - REVERSAL IN PLAY - Is the "RISK-ON" SENTIMENT BACK???

2022050508 - 2240H: A strong downtrend currently in play, reference to DXY, price may continue the downward move and response at DKL @0.6989 (to form a triple bottom) before reversing to the upside. Alternatively, price may continue to move towards the downside to WKL @0.68305 or Channel bottom @0.6732.

20220516 - 2155H: Weekly prints a nice rejection of WKL @0.68305, plus multiple news events which may provide a boost for AUD.

20220517 - 1712H: Similar for all USD pairs, would be expecting pullback @0.69850 prior to/during the 2030H new release before resuming its course. Will look out for a setup!

Bias: BUY

Note

20220523 - 0023H: Similar to USDCAD, will wait for Monday closing before looking out for my bias setup. Lower time frame displays mix sentiments. As such price may consolidate for a period before making a hard move.

Note

20220530 - 0029H: Price prints a big green candle as per our bias of a BUY and close above the SMA200 on a Weekly chart. Should a Risk-On sentiment follows thru on Monday and Tuesday, will anticipate price to break the Channel Top & EMA50 (Daily Chart and move towards the next key level. Mid/Late of the week, would anticipate a retest of channel top/SMA200, depending on the extension of the upward move.

Note

20220605 - 2320H - The path removes intact as projected. A retest on the EMA50 or Channel Top would be expected. Tuesday would be an interesting day due to new release.

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