Technically, the Aussie Dollar pair may dip 400 pips towards the 0.6500 handle. Earlier today price rejected the 0.7000 physiological level which doubled as a channel resistance. The Daily candle has just closed as a Railway Track bearish pattern. I highlighted the past two times we've seen this pattern recently and on both occasions price dipped at least 250 pips. I strongly believe that history will repeat itself again.
Fundamentally, the FED Chairman was hawkish on the USD this afternoon which sparked aggression from USD bulls; this USD Bullishness is set to continue for some time. Mid-term, I am bearish on this pair, and I think you should be as well.
Fundamentally, the FED Chairman was hawkish on the USD this afternoon which sparked aggression from USD bulls; this USD Bullishness is set to continue for some time. Mid-term, I am bearish on this pair, and I think you should be as well.
