AUDUSD Rallies But Remains Technical Short

FX:AUDUSD   Dolar Australia/Dolar U.S
On May 9, MacroView issued a short idea on AUDUSD and highlighted the strong correlations with copper and gold , which we would see the trifecta fall 2.93 percent, 4.90 percent and 6.68 percent respectively.

We've seen all three etch out bottoms in early June, yet copper is retesting those lows on unexpected increases in inventories. The AUDUSD went big following the Reserve Bank of Australia holding their key benchmark to 1.75 percent. Unfortunately, this will be short-lived. The central bank's policy will strongly be tethered to the economic performance of China.

Technically, we see price resistance at .7520 with a breakout potential to .7645 since the move does have relative strength in momentum. However, the weekly technicals still show a picture of lackluster upside potential.

Intermediately, the z-score is at a very high 2.6 (+/- 2 are a great contrarian indicator).

Trade posted on chart. Updates will be provided.

For more information on MacroView's products, or general questions and comments, feel free to message us.

Also, readers are encouraged to post their thoughts and charts!
I am expecting for a pullback to 0.7300 maximally, do you really think the price can retrace that deep? I doubt it.
Yes. It's not intended to be a quick trade. I prefer it work itself into a more overbought scenario, but 390 pips over 10 sessions is possible. Im looking for it retrace to key points.
MS Bahasa Melayu
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Laman Utama Penyaring Saham Penyaring Forex Penyaring Kripto Kalendar Ekonomi Bagaimana ia berfungsi Ciri-ciri Carta Peraturan Dalaman Moderator Laman web dan Penyelesaian Broker Widget Perpustakaan Carta Stok Permintaan Ciri Blog & Berita Soalan Lazim Bantuan & Wiki Twitter
Profil Tetapan Profil Akaun dan Pengebilan Tiket Sokongan Saya Hubungi Sokongan Idea-idea yang diterbitkan Pengikut Mengikut Mesej Peribadi Sembang Daftar Keluar