Razvan
Short

AUDUSD - Short break

FX:AUDUSD   Australian Dollar/U.S. Dollar
The Aussie dropped more than 200 pips in a short period of time, so it took a short break. Everyone is expecting for the RBA to lower the interest rate to a record low of 2%, or at least to put pressure on the exchange rate at the next monetary policy meeting. But my TA is also bearish for the moment. I think that there is a high probability for the price to break below the local support and aim for 0.7700. My theory will be invalidated if I will see a rally and a 60 minute close above the local resistance (0.7850)
Welcome back mate
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Razvan Technician
2 years ago
Thanks, glad to be back!
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Razvan
2 years ago
Now this had a pretty interesting reaction. The price broke below 0.7800 but just to jump start bulls to throw it back to 0.7900. Interest rate was cut and trade balance was below expectations!
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AmirSami Razvan
2 years ago
Is there any expected area to go short ,
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Razvan AmirSami
2 years ago
well this TA was invalidated by the spike, I will post soon my ideas for aussie.
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