FX:AUDUSD   Australian Dollar/U.S. Dollar
119 0 1
Hello Traders!
Here on the Aussie we have been witnessing a lot uncertainty, from a fundamental perspective; This pair is greatly affected by the again markets in emerging and advanced markets, with a recent slowdown in China threatening Aussie's export quota, this could have been the catalyst for further weakening, however in a recent statement released by the RBA, growth seems to be steady and firming, however this was not enough for the central bank to raise interest rates, intact they decided to maintain the rate as it was seen to be very accommodative for further growth, especially with a lagging inflation figure. This will be monitored and further cuts have not been ruled out to stimulate this figure to target levels.
And using a Technical View; this pair is trading between 2 levels of diagonal support and resistance forming a symmetrical triangle. this could break to the upside or could hit it's head at resistance and continue its long term down trend, taking out the next Lower High would have my short bias start to shift on this pair and a new Higher Low would be a great value area for a long trade. HOWEVER, lining the Fundamental data, along side the technical data of the DXY             chart, i do not think there is a strong likelihood of such an occurrence, so i will be awaiting a value area for a short signal to test the waters of this trade back to the downside, hopefully breaking the ascending trend-line back to the downside.
As a personal preference for the longs on this trade, i would be looking only if we get a break and close above the 0.76000 Handle.
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