Overall view of AUDUSD - Update of June 17th week
Previous view: Odds of a bear continuation are medium, stay bearish and sell at any high point while prices don't pull out from the support zone or 0.69000 top level.
Actual outcome: Prices broke a support zone and are still subjected to a bear pressure. The odds of a bear continuation are medium/high with tiny chances of a reversal driving the price higher.
Possible targets : @0.68000 (+50pips) and @0.67250 (+120pips).
Advice : Stay bearish and sell at any high point while prices don't pull out from the support zone or 0.69000 top level.
Correlated pairs : NZDUSD (91.7%) and EURNZD (-84.6%).
We are more likely to experience a bear run continuation with the NZDUSD pair. In another hand, EURNZD stays bullish.
Actual outcome: Prices broke a support zone and are still subjected to a bear pressure. The odds of a bear continuation are medium/high with tiny chances of a reversal driving the price higher.
Possible targets : @0.68000 (+50pips) and @0.67250 (+120pips).
Advice : Stay bearish and sell at any high point while prices don't pull out from the support zone or 0.69000 top level.
Correlated pairs : NZDUSD (91.7%) and EURNZD (-84.6%).
We are more likely to experience a bear run continuation with the NZDUSD pair. In another hand, EURNZD stays bullish.
Trade closed: stop reached:
Markets bounced back from the support zone.