Forecast – BEARISH
Date Posted: 6 Jan 2020
Currency Pair: AUDUSD
Current Trend: SIDEWAYS
Forecast Move: DOWN
Key Tech Level: 0.6921
Trade Action: SELL
Stop Loss 0.6934 -25 pips
Take Profit 0.6834 +75 pips
Chart & Forecast Details
The Aussie dollar enjoyed the Xmas/New Year break and had a nice rally up to 0.7030. To me that’s an interim high and I’m expecting any weakness in the Australian data to drive the AUDUSD lower. On top of that, the current national bushfires will see a huge drop in economic activity and could push the Aussie economy into recession.
Key Trade Day: Friday 10th Jan – Retail Sales
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