Strifor || AUDUSD-Mid-term view
Preferred direction: BUY
Comment: As expected earlier, the US dollar has strengthened against all major competitors, and the AUDUSD currency pair is at the top of this list. The main trigger for the fall was the RBA meeting. However, we previously noted that for this instrument a setup was formed for at least a downward correction. It should be noted that the long-term prospects are not so rosy for buyers, although we expect growth in the medium term. This potential movement is considered towards the level of 0.66000 and no higher.
For this long-deal, we highlight two scenarios, as always, and both are indicated on the chart. Most likely, in the short term, the major currencies will decline, including the AUD.
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for boost and share your views!
Comment: As expected earlier, the US dollar has strengthened against all major competitors, and the AUDUSD currency pair is at the top of this list. The main trigger for the fall was the RBA meeting. However, we previously noted that for this instrument a setup was formed for at least a downward correction. It should be noted that the long-term prospects are not so rosy for buyers, although we expect growth in the medium term. This potential movement is considered towards the level of 0.66000 and no higher.
For this long-deal, we highlight two scenarios, as always, and both are indicated on the chart. Most likely, in the short term, the major currencies will decline, including the AUD.
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for boost and share your views!
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