LONG - AUD/USD Weekly Pinbar off Key Area
The AUDUSD presents an increasingly bearish technical stance according to the 4 hours chart on the broader horizon, however we should expect bullish wave this week towards potentially trend line resistance at 0.75 range as Investors digest the report following Fridays NFP and the market equalises.
I'm bearish overall on the AUD due to a stronger USD over 2018 with rate hikes still to come in Q3 and Q4 2018.
On the weekly charts we are seeing good price action rejecting from last weeks test of 0.73 low’s printing a pinbar off the monthly key level at 0.74.
I'm bearish overall on the AUD due to a stronger USD over 2018 with rate hikes still to come in Q3 and Q4 2018.
On the weekly charts we are seeing good price action rejecting from last weeks test of 0.73 low’s printing a pinbar off the monthly key level at 0.74.