Trying AUDUSD higher here.
potential double bottom forming around these levels.
There's been some good developments for SVB over the weekend that should mean a risk on move over Monday. the USD narrative has also been hurt by last week. We had lower USD wage data and US bank worries which could mean a more cautious fed going forward. This combined with a good news from SVB over the weekend could mean we get a short squeeze in risk assets and therefor a move higher in AUDUSD. i imagine a lot of people went short AUDUSD over the last week so we could see a short squeeze in the pair as well.
correlations suggest higher, rate differentials are moving higher, gold is higher and risk assets i expect will move higher as well.
sentiment is extremely low for the pair so downside movement may be limited.
US stock seasonals turn bullish this week for a while and positive seasonality for AUDUSD starts march 17th.
Not trading/investment advise, feedback welcome!
potential double bottom forming around these levels.
There's been some good developments for SVB over the weekend that should mean a risk on move over Monday. the USD narrative has also been hurt by last week. We had lower USD wage data and US bank worries which could mean a more cautious fed going forward. This combined with a good news from SVB over the weekend could mean we get a short squeeze in risk assets and therefor a move higher in AUDUSD. i imagine a lot of people went short AUDUSD over the last week so we could see a short squeeze in the pair as well.
correlations suggest higher, rate differentials are moving higher, gold is higher and risk assets i expect will move higher as well.
sentiment is extremely low for the pair so downside movement may be limited.
US stock seasonals turn bullish this week for a while and positive seasonality for AUDUSD starts march 17th.
Not trading/investment advise, feedback welcome!