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Aussiedollar

AUDUSD - Below 0.70Hi everyone, It seems that the Australian dollar has broken significant support and keeps the focus lower in price. I expect the AUDUSD to go lower around 0.68 for the following reasons: 1- US Dollar Index is on the Upside. 2-The weekly MACD looks bearish. 3- Bad news from the Reserve Bank of Australia. 4- No good news from China. On the other hand, this could be a buy opportunity since there is a massive support at 0.70, however I do not think this will be the case this time.
by Joel_Ochoa
Correlations Between AUDUSD, Coal, and Iron OreI've been taking quite a deep look at the relationship between correlatives of the Australian dollar lately. There's no question that this deep dive would be remiss without looking at correlation coefficients between AUDUSD and that of commodities it exports, primarily iron ore and coal. The chart really speaks for itself. Aussie dollar sees strength when coal and iron prices are up, weakness when its down. Pretty simple. Not much more to say beyond that, but the implications for this relationship are quite fundamental to several questions vis-a-vis the Australian economy such as financial diversification, their reliance upon Chinese imports, not to mention the environmental tolls the Aussies have suffered from global carbon emissions. All issues, public policy or financial, must recognize this important financial relationship before going forward to reassess any changes to the economy that come down on it. At the very least, the implications of these correlations need to be recognized.
by WhiskeyTangoFoxtrot3
AUDCAD - Sell OpportunityCriteria: 1. Fibo retracement 62% 2. Fibo extension 161% 3. 2011 low 4. Previous 2019 high 5. The round number 0.96000 6. Channel projections From a technical perspective, this level should be pretty strong, add here some fundamentals, etc. Please, take a second and support my idea post by hitting the "LIKE" button, it is my only fee from You! Have a nice week, Best regards! *This information is not a recommendation to buy or sell, it is used for educational purposes only!
Short
by VaidoVeek
Double Fib Levels Strong Support for AUDUSDTwo Fibonacci retracement levels come quite close to one another. The area around these double Fib levels have also acted as strong support dating all the way back into later 2018. Moreover, if price action retreats then we should probably see this same level act as support as it has been tested and retested several times. However, if price action moves to the upside, we could see that downward sloping short-term resistance to potentially hold.
by WhiskeyTangoFoxtrot3