Rising wedge
Australian dollar /United stase dollar future contract is trading in a Big Rising Wedge, I thinkit will be broken and price might fall.
We can clearly see a divergence between ON BALANCE VOLUME and PRICE.
Fundamentally AUD is going upthese days due to Optimism about a Covid-vaccine and a V -shape recovery in international indices. However there are still high risks related to USA-CHINA trade war and potential impacts on Australian economy (AU and China are commercial partners and if China exports will be damaged Australian economy will be influenced)
Open a short trade with target 0.63
We can clearly see a divergence between ON BALANCE VOLUME and PRICE.
Fundamentally AUD is going upthese days due to Optimism about a Covid-vaccine and a V -shape recovery in international indices. However there are still high risks related to USA-CHINA trade war and potential impacts on Australian economy (AU and China are commercial partners and if China exports will be damaged Australian economy will be influenced)
Open a short trade with target 0.63
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