EURAUD Lower
Trying EURAUD lower here.
We have a rough quadruple top here which should help limit the upside.
The narrative for AUD has been turning better recently, the labour market is strong and data coming out of australia overall has been good. The hawkish ECB narrative has been hit recently a little by the banking worries and so could limit the upside as well. I am also expecting risk on mood due to peaking global yields due to the banking worries, this should help EURAUD move lower.
EURAUD is behind on the recent risk on mood, the rate differential is losing steam to the upside and the Hang Seng index is doing well over the last couple days which should help AUD.
Positioning is extremely high as well.
Not trading/investment advise, feedback welcome!
We have a rough quadruple top here which should help limit the upside.
The narrative for AUD has been turning better recently, the labour market is strong and data coming out of australia overall has been good. The hawkish ECB narrative has been hit recently a little by the banking worries and so could limit the upside as well. I am also expecting risk on mood due to peaking global yields due to the banking worries, this should help EURAUD move lower.
EURAUD is behind on the recent risk on mood, the rate differential is losing steam to the upside and the Hang Seng index is doing well over the last couple days which should help AUD.
Positioning is extremely high as well.
Not trading/investment advise, feedback welcome!
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