Alright the AUD has had a short bearish rally and stalled. Now retracing, we are faced with the question: Is this a new trend, or just a pullback in the bull market.
Bullish factors:
- Bounce from the 50D moving average
- Yesterday closed bullish
- RBA has addressed that further interest rate hikes will be needed
Bearish factors:
- Potential pricing in of future rate raises into the market already
- Recession, strong US jobs data
- 1H chart entered a bearish market
- broken double top neckline
Comment what you think!
I am going short here but we shall see what happens.....
Bullish factors:
- Bounce from the 50D moving average
- Yesterday closed bullish
- RBA has addressed that further interest rate hikes will be needed
Bearish factors:
- Potential pricing in of future rate raises into the market already
- Recession, strong US jobs data
- 1H chart entered a bearish market
- broken double top neckline
Comment what you think!
I am going short here but we shall see what happens.....