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IkanBilisCapital

Switching bias. Bearish on AUDUSD

Short
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
IkanBilisCapital  
FX:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators AUDUSD audusdshort audusdlong audusdforecast audusdsignal audusdanalysis audusdsell audusddaily audusdbuy
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trendanalysis chartpattern indicator audusd audusdshort audusdlong audusdforecast audusdsignal audusdanalysis audusdsell audusddaily audusdbuy
I have been mainly bullish on risk on pairs like the aussie dollar for the past for weeks. This weeks' price action is making me switch my bias. The pair looks short to mid-term bullish and looks like it will trade in a range for the large part of 2022.

BEAR CASE
We are expecting price to visit 0.70 for a strong rebound. After that we will switch our strategy towards trading in a range with a bias to farther downside for the AUDUSD

BULL CASE
If the market proves us wrong in the coming week, we're expecting price to retest the 0.76 areas where there might be some resistance.
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