Today we reached a key level for this pair at .74000 for the second time from the .55000 low in March. Despite the dollars weakness AUD was not able to push through .74000 and was immediately rejected. A rejection from this point aims for .72200 for the first retest. .73710 is this pairs exhaustion point established from the .55000 low. Exhaustion points are...
Technically exhausted bulls and tonight we have Businesses & Employment reports incoming from the US (ADP, ISM, and PMI) which are some key data representing the US economic outlook. Any unexpected numbers can spark volatility on this major pair. We had a 50bp emergency rate cut which was a surprise last night from FED and the aftermath outcome for the king was...
Australia’s strong economic ties with China too and we all know this virus named "Coronavirus" is actually not only affecting the people of china but whole financial markets around the world. Equities have fallen, bond rises and all the safe haven got a pump upward couple of days earlier. Risk currency like Aussie had trouble and safe heaven like yellow metal,...
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AUD/NZD is so close to the best place where we can open a SHORT entry.
Best entry: around 1.06100
TP1 - 1.04800
TP2 - 1.04600
I love such entries because risk-reward is good.
GOOD LUCK and take entry according to your balance.
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CAD had a great run and seems we got to the point which every factor is pointing to the end of USD-paired currencies evaluation.
If the assumption be the actual state, we're looking for to see rejection right at current resisted level and eventually dripping toward nearest support.
Goodluck
