The USD U-Shape currency band still confirm for AUDUSD to bearish and heading 0.5600 and the AUD multilateral currency band also supportive and bearish to follow the USD U-Shape currency band. Therefore, short trade by intraday, weekly, monthly is preferable until the lower ceiling estimated 0.5600 to be reached.
Any bullish tends to be temporary by the USD central rate/target rate/central parity adjustment during Asian, European and US sessions. Such adjustments not to change the bearish directional price trend.
Any bullish tends to be temporary by the USD central rate/target rate/central parity adjustment during Asian, European and US sessions. Such adjustments not to change the bearish directional price trend.
Comment:
The AUDUSD central rate at upper ceiling strongly depended and AUSUSD pressured down from below the 0.7070. The AUD multilateral currency band price dynamics also strongly pressured down. At such, AUD will continut to be weaker and the expectation to break 0.7070 should be ignored. Short trade resumed to be more favorable.