Alright the AUD has had a short bearish rally and stalled. Now retracing, we are faced with the question: Is this a new trend, or just a pullback in the bull market.
Bullish factors: - Bounce from the 50D moving average - Yesterday closed bullish - RBA has addressed that further interest rate hikes will be needed
Bearish factors: - Potential pricing in of future rate raises into the market already - Recession, strong US jobs data - 1H chart entered a bearish market - broken double top neckline
Comment what you think! I am going short here but we shall see what happens.....