We switched our bias from bullish to bearish from last week and we did see the market selloff this week. After the fed's announcement of a taper (to understand more please read the analysis on SPX and US10Y treasury), we still maintain a bearish tone but we must caution that the bottom is near for this risk on pair. We could see another month or two of red candles but a well managed position in the upside of AUDUSD will not be wrong at this point of time.
BULL CASE
Price could fake out below 0.72 before starting the ascend towards higher targets
BEAR CASE
0.70 looks like a potential floor for price going into the next few weeks of the last quarter of the year.
BULL CASE
Price could fake out below 0.72 before starting the ascend towards higher targets
BEAR CASE
0.70 looks like a potential floor for price going into the next few weeks of the last quarter of the year.
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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.