Tradeciety

AUDUSD - profit taking after the risk off sell-off

FX:AUDUSD   Australian Dollar/U.S. Dollar
69 0 0
Despite Monday's 5% drop in the Shanghai Composite             , the AUD/USD             managed to squeeze in a short relieve bounce. However, the support bounce is not convincing and the fundamental picture signals further shorts. All it takes is another strong down day in China and the Aussie could continue it's move down.

There are two support levels just above each other but once they fall, there is a lot of downside potential. Although we are overall very bearish on this one, we remain on the sidelines until the two levels have been broken.

snapshot
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out