KQMarkets
Short

AUDUSD doji candle positive reversal still short

OANDA:AUDUSD   Australian Dollar / U.S. Dollar
On our analysis on the 16.04 we highlighted a breakout before the downtrend resumed. The 25.04 saw a doji candle followed by an upward reversal but we see this as profit taking on short positions and expect the currency pair to keep dropping. This is because we don't see Australia raising rates anytime soon, also there is a large amount of data out this week starting with USD PCE Core (YoY) (MAR) today and in general we anticipate US data to be stronger than Australian data.
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