AUDUSD - A pair at critical level
The pair has come to a critical supporting area.
As shown on my chart, I still would like to believe there's an opportunity for a long order with strict stop loss, and it is more recommended to be a short-term trade instead of a long-term trade.
With the strong trend of DXY, it is uncertain whether AUD will be able to bounce or not.
However, I still believe that a retrace of DXY is still required before it can go further up.
It is only the start of the week, and with NFP and other data coming, volatility is expected.
As shown on my chart, I still would like to believe there's an opportunity for a long order with strict stop loss, and it is more recommended to be a short-term trade instead of a long-term trade.
With the strong trend of DXY, it is uncertain whether AUD will be able to bounce or not.
However, I still believe that a retrace of DXY is still required before it can go further up.
It is only the start of the week, and with NFP and other data coming, volatility is expected.
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