The AUDUSD is getting close to free falling after the RBA left the door open for lower rates if the upcoming economic data comes in weak. At the moment the technicals all point down and the current geopolitical sentiment is also down. Now that geopolitical sentiment could change but for now all roads lead to a lower AUDUSD.
Current Technicals: Down
Hourly Resistance: 0.6786
AUDUSD HOURLY CHART – Current Price 0.6732
Current Fundamentals: Down
Central Bank Sentiment: Down
Geopolitical Impact: Down
Upcoming Potential Fundamental Drivers
Short positions below 0.6786 with a target at 0.6650
This is a technical trade so I’ll be using Trendline Trader to execute the order.
Entry level: 0.6774 (Pending Limit Sell order)
Stop Loss: Above 0.6800
Take Profit: Towards 0.6650
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