AUDUSD has been steadfast in the face of the RBA's rate cut and the knock NFP number but we expect it fall back now toward the 0.7500 level. On the horizon we do not see anything that is going to take this pair into a outright bearish move toward 0.7000 so expect range play with a current preference for an upside break.
Monday should see relied from Friday's dollar buying and we would expect the 0.7660-80 area to hold for this scenario to play out
Comments
4XRandalll
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I agree, Short. We have a bearish pinbar on the 4H - short, Under EMA8/20 - Short, Price Action showing Inside Bars - Short.... not sure what else we need for confirmation that this is a high potential short opportunity.
Negative AUD news for monday would be the icing on the cake.
Negative AUD news for monday would be the icing on the cake.