With US inflation and jobs data showing signs of strength, I think interest rates won't be cut as soon as once thought. Therefore, this is an opportunity for the dollar to rally. I think the Aussie could test monthly support at around .6330.
Note
So far, it's moved from .6710 to .6570. There's a lot of room below and possible catalysts to push it down to the monthly support.Note
Trade still in motion. I've been selling technical bounces on the way down.
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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.