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Pisces_Investments
May 20, 2023 4:27 PM

Aussie Bearish Flag Idea Short

AUD/USDOANDA

Description

Fundamentally, RBA had a surprise rate increase but data is showing weakness in Aussies economy, which may lead to a dovish central bank in the future. Meanwhile, USD has signs of strength although the Fed seems to neither hawkish or dovish at this time. USD doesn’t appear to done with its rally with the bulls. Technically, we have a bearish engulfing candle on the daily time frame, a bearish landscape under the cloud and a bearish flag of consolidation.. I have expectations of a break south with the bears. I am currently in a short position @ 0.66511 and SL @ 0.67703..
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