Hey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.666 zone, AUDUSD was trading in an uptrend and successfully managed to break it out, currently AUDUSD seems to be in a correction phase in which it is approaching the major trend at 0.666 support and resistance zone. Fundamentally the market is pricing another rate hike early May as fed still see inflation as a concern which should trigger more USD bulls. Trade safe, Joe.
I totally agree with your idea about the DXY gaining in the near future. Your analysis of the expanding indicators and the reduced risk of bank failures makes a lot of sense. It's always great to see people with a good grasp on the financial markets and I appreciate you sharing your thoughts with us. I think the DXY is definitely worth keeping an eye on in the coming months, thanks for your valuable insight! Cheers!!
JoeChampion
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@rTrader_official, Thank you for your feedback, happy to share the knowledge!