An improved Australia trade balance released earlier today failed to impress Aussie bulls. AUD/USD trades weaker on the day, extends downside below 0.71 handle. Overall bias remains firmly bearish heading into the US Non-Farm Payrolls Friday. The dollar is outperforming as U.S. data remains strong. Focus also on Australia Retail Sales for August at 00:30 GMT Friday. Forecast stand at 0.3% versus the previous month's 0.0%. Our previous call has hit all targets. Book partial profits. Trail SL to 0.7175. Target 0.7025/ 0.6980.
I agree with your bearish view on AUDUSD, we have found resistance level at 0.7086 which is a horizontal overlap resistance.
Aditionally RSI and Ichimoku cloud is also facing bearish pressure
Glad that we have the same view on AUDUSD
Aditionally RSI and Ichimoku cloud is also facing bearish pressure
Glad that we have the same view on AUDUSD