Weekly forex analysis of AudUsd for 11th, April,2022
Fundamentally, Recent Trade balance reports released from Australia indicates the likely hood of bearishness of the Aud. Next week, we should be expecting Consumer Price Index reports from the US, unemployment rate report from Australia.
Technically, AudUsd has been on a massive rally to the upside and is currently at an overbought price. As seen on the Charts, The price has been on the halt giving rise for an indication that price may fall to a discounted price hence creating a supply zone on the daily Charts.
On the weekly charts, price has formed a shooting star as well.
Using the moving average below as a dynamic resistance and support level, I am expecting price would fall to that level breaking the bullish structure of the market before heading backwards to mitigate the supply zone. More details was shared in the video analysis.
Let’s go take some risk, let’s go make some money.
Fundamentally, Recent Trade balance reports released from Australia indicates the likely hood of bearishness of the Aud. Next week, we should be expecting Consumer Price Index reports from the US, unemployment rate report from Australia.
Technically, AudUsd has been on a massive rally to the upside and is currently at an overbought price. As seen on the Charts, The price has been on the halt giving rise for an indication that price may fall to a discounted price hence creating a supply zone on the daily Charts.
On the weekly charts, price has formed a shooting star as well.
Using the moving average below as a dynamic resistance and support level, I am expecting price would fall to that level breaking the bullish structure of the market before heading backwards to mitigate the supply zone. More details was shared in the video analysis.
Let’s go take some risk, let’s go make some money.
