AUDUSD - CURRENT SITUATION AND FUNDA & TECHNICAL BIAS
#AUDUSD
- Currently the MARKET SENTIMENT for AUD is slightly UP SIDE according to the MARKET SENTIMENT. Due to RISK ON for AUDUSD, there is currently an UPSIDE BIAS for it. The main reason for that is because MARKET RISK is ON, STOCKS and COMMODITIES MARKETS are now slightly UP. It is heavily influenced by the Australian dollar. And today AUSTRALIA INFLATION DATA was very POSITIVE. Due to this, the RBA made a RATE HIKE.
- It is definitely possible to break the AUDUSD STRUCTURE and go up to the higher RESISTANCE LEVEL. Accordingly, AUDUSD can go up to 0.6600 LEVEL. And after that, AUDUSD can SELL to the 0.6000 LEVEL if the MARKET SENTIMENT changes and STOCKS and COMMODITIES start going down. For that, the MARKET STRUCTURE should be BREAK. And RISK should be OFF.
- Currently the MARKET SENTIMENT for AUD is slightly UP SIDE according to the MARKET SENTIMENT. Due to RISK ON for AUDUSD, there is currently an UPSIDE BIAS for it. The main reason for that is because MARKET RISK is ON, STOCKS and COMMODITIES MARKETS are now slightly UP. It is heavily influenced by the Australian dollar. And today AUSTRALIA INFLATION DATA was very POSITIVE. Due to this, the RBA made a RATE HIKE.
- It is definitely possible to break the AUDUSD STRUCTURE and go up to the higher RESISTANCE LEVEL. Accordingly, AUDUSD can go up to 0.6600 LEVEL. And after that, AUDUSD can SELL to the 0.6000 LEVEL if the MARKET SENTIMENT changes and STOCKS and COMMODITIES start going down. For that, the MARKET STRUCTURE should be BREAK. And RISK should be OFF.