AUD - Strong Bearish
1️⃣ Negative market sentiment generally weighs on high-beta currencies such as AUD, NZD, and CAD.
2️⃣ AUD is also under pressure amid falling commodity prices such as iron ore, copper, and steel.
3️⃣ Australia’s annual inflation rate fell to 3.0% in the third quarter from 3.8% in the previous period.
JPY - Strong Bullish
1️⃣ The decline in the stock market caused investors to turn to safe-haven currencies.
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Technical
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We are selling the AUDJPY after it failed to break the resistance level.
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Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Don't forget to like, comment, and subscribe for more ideas.
1️⃣ Negative market sentiment generally weighs on high-beta currencies such as AUD, NZD, and CAD.
2️⃣ AUD is also under pressure amid falling commodity prices such as iron ore, copper, and steel.
3️⃣ Australia’s annual inflation rate fell to 3.0% in the third quarter from 3.8% in the previous period.
JPY - Strong Bullish
1️⃣ The decline in the stock market caused investors to turn to safe-haven currencies.
=====
Technical
=====
We are selling the AUDJPY after it failed to break the resistance level.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Don't forget to like, comment, and subscribe for more ideas.
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