AUDUSD: BEARISH DESCENDING TRIANGLE 🔻
BIAS: BEARISH 🔻
TECHNICAL PROJECTION: BEARISH
On the H4, we have a bearish bias that price will retest "B" & "D" area and to continue further bearish to 0.6665 target to complete its "e wave" from the bearish descending triangle pattern.
FUNDAMENTAL PROJECTION: BEARISH
DXY STRENGTH: Market could be pricing further 75bps hike tightening to come & balance sheet reduction to continue at $60b & $35mbs over the three month timeframe.
As price is currently retracing, look for a retest of 0.6800 before a move lower could be possible.
BIAS: BEARISH 🔻
TECHNICAL PROJECTION: BEARISH
On the H4, we have a bearish bias that price will retest "B" & "D" area and to continue further bearish to 0.6665 target to complete its "e wave" from the bearish descending triangle pattern.
FUNDAMENTAL PROJECTION: BEARISH
DXY STRENGTH: Market could be pricing further 75bps hike tightening to come & balance sheet reduction to continue at $60b & $35mbs over the three month timeframe.
As price is currently retracing, look for a retest of 0.6800 before a move lower could be possible.