Regarding our observations, currently there are significantly more buyers in the market.
Breaking RSI-based trend line after overbought and oversold levels worked well for this instrument recently.
We are in oversold again after a mighty break We might see some correction in Aussie move in this week or may be in next weeks.
You can both enter after breaking 0.6450 or wait for reaching to around 0.6375.
Next weeks we might join sellers again around the 0.6560!
Remember that Aussie down trend might be due to bad economical data release of China as the main importer of Australia and also China's ambitions regarding Taiwan may end up in an economic conflict between the free world and China.
Breaking RSI-based trend line after overbought and oversold levels worked well for this instrument recently.
We are in oversold again after a mighty break We might see some correction in Aussie move in this week or may be in next weeks.
You can both enter after breaking 0.6450 or wait for reaching to around 0.6375.
Next weeks we might join sellers again around the 0.6560!
Remember that Aussie down trend might be due to bad economical data release of China as the main importer of Australia and also China's ambitions regarding Taiwan may end up in an economic conflict between the free world and China.
Note
Aussie was not able to break 0.6450 up we should wait for 0.6375 for next long opportunities!But for short-term traders there are opportunities exist here!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.