AUDUSD sold off aggressively on Thursday but recovered on Friday and put in a pinbar reversal candle. Quite a bit of negative AUD sentiment has halted the AUD's impressive rise from .7162 and multiple resistance at .7732 appears to be insurmountable for the time being.
Monday and Tuesday see the release of AUD Retail Sales followed by the RBA Cash Rate and Statement. Its unlikely we'll see a hawkish statement but anything not as dovish as expected will boost the AUD. Conversely anything AUD negative will send all cross pairs considerably higher.
Trade idea.
Wait for news and see where we're headed.
Look to SHORT under .7547 for a possible deep move south.
Monday and Tuesday see the release of AUD Retail Sales followed by the RBA Cash Rate and Statement. Its unlikely we'll see a hawkish statement but anything not as dovish as expected will boost the AUD. Conversely anything AUD negative will send all cross pairs considerably higher.
Trade idea.
Wait for news and see where we're headed.
Look to SHORT under .7547 for a possible deep move south.
