$AUDUSD | Sell Trade | Market Exec |
Technical Confluences:
Fundamental Confluences:
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I have also taken a Short position in the
AUDUSD trade and monitoring that the Resistance trendline and Interest Zone don't break.
Within the Orange Zones, I will look to add position if I see further support that the Resistance will hold
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- Price is at Overbought conditions Daily timeframe
- Price action is close to a resistance trendline and entering an Interest Zone
Fundamental Confluences:
- Very similar to the
NZDUSD posting I did, all other Central Banks in the DM space wanting to cut rates, it negates off the yield premium that NZD would be getting against USD - Market is consolidating after all the USD sell-off and profit-taking mood before NFP is likely to happen
- AUD being a commodity currency is greatly affected by China's economic performance and it is currently still looking bleak
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I have also taken a Short position in the
AUDUSD trade and monitoring that the Resistance trendline and Interest Zone don't break.Within the Orange Zones, I will look to add position if I see further support that the Resistance will hold
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Disclaimer: The personal opinion above does not constitute as an investment advice. Any decisions taken based on the above opinion is purely at your own risks. DYOR.
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