AUDUSD recently experienced some bearish momentum after some negative fundamentals from last week. The pair is now sitting under our resistance area showing possible signs of a further move to the downside. However, looking at the COT Report its showing signs of bullish movements with AUD increasing their long orders dramatically and USD overall short in momentum. This lines up perfectly alongside our seasonal data as we have yet to experience the bullish rally from AUD that we expect in the month of October.
Plan of action - Wait for a strong bearish candle to downside but we are favoring the upside!
Plan of action - Wait for a strong bearish candle to downside but we are favoring the upside!