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SmoothJB
Jan 16, 2022 7:17 PM

AUDUSD Short

AUD/USDOANDA

Description

The Australian dollar rallied most of the week, reaching towards the 0.73 level, but we ended up breaking down significantly to form a bit of a shooting star for the week. That is a negative sign, and it looks like we are going to continue the overall negativity that we have seen in this market. Because of this, it would not surprise me to see a “sell the rallies” type of situation, or perhaps just a break down towards the 0.70 level.
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