According to technical indicators, some upwards potential is likely. Furthermore, the currency exchange rate should continue it bullish sentiment in accordance with the ascending channel. As for near future, the exchange rate is likely to continue to rally until it reaches the upper boundary of a channel up where the weekly resistance is located.
The Australian dollar could be headed into a long term uptrend provided that the US dollar will be depreciated due to the need to raise the interest rate.
Chart: AUD/USD H4
It's quite bearish for now.
ReplyDeleteA downward correction is under way.
ReplyDeleteGood post. Very helpful.
ReplyDeleteThe pair marked huge drop this week.
ReplyDeleteThere is still space for further decline
ReplyDeleteI think it will continue depreciating.
ReplyDeleteThe pair decline further.
ReplyDelete