AUDUSD is making 5 week lows and is due for a retracement or possible reversal in a downtrend to a major Moving Average. Despite news of lowered interest rates reducing it's appeal, the market has likely already discounted it's lack of appeal into the recent decline.
Await confirmation of break of recent trendline as, given it's poor performance it could fall on lack of confidence to a major previous support level.
Await confirmation of break of recent trendline as, given it's poor performance it could fall on lack of confidence to a major previous support level.
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.
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.