AUDUSD is struggling below the 0.6900 level, and the bounce attempts still look weak. After the sharp fall from 0.7030, price has not shown enough buying strength to suggest a real reversal.
The macro picture also favours caution. USD strength, Fed rate expectations, softer Australian inflation, and weaker sentiment toward risk currencies are all keeping pressure on the Aussie.
Trade Setup:
Sell Zone: 0.6920 – 0.6945
Stop Loss: 0.6970
Take Profit 1: 0.6830
Take Profit 2: 0.6800
The macro picture also favours caution. USD strength, Fed rate expectations, softer Australian inflation, and weaker sentiment toward risk currencies are all keeping pressure on the Aussie.
Trade Setup:
Sell Zone: 0.6920 – 0.6945
Stop Loss: 0.6970
Take Profit 1: 0.6830
Take Profit 2: 0.6800
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Related publications
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.