What I'm currently looking for before I can determine the future direction of the dollar. It has been in an uptrend ever since the pandemic and am looking for the best time to take an entry to hold, however, price is currently in an area of importance across the board and therefore is crucial to monitor at the indicated levels.
The highlighted area can be looked back in time as an important resistance area before price can manage to push through and continue its uptrend, or reject and start a new downtrend.
THIS CAN BEST BE USING THE WEEKLY/MONTHLY CHART.
I am currently bearish on the USD, and believe Australia's handling the pandemic well and it's economy has not been too poorly effected. I would prefer to look for entries to enter a buy, but will need to see how price reacts int this zone. interested on anyones thoughts of the long term outlook on AUDUSD or the aussie / us dollar in general.
The highlighted area can be looked back in time as an important resistance area before price can manage to push through and continue its uptrend, or reject and start a new downtrend.
THIS CAN BEST BE USING THE WEEKLY/MONTHLY CHART.
I am currently bearish on the USD, and believe Australia's handling the pandemic well and it's economy has not been too poorly effected. I would prefer to look for entries to enter a buy, but will need to see how price reacts int this zone. interested on anyones thoughts of the long term outlook on AUDUSD or the aussie / us dollar in general.