What is going on with AUD?
AUD/USD has baffled trading breaking out of the years range to the topside last Tuesday after the RBA changed to a hawkish stance.
AUD/USD rally was reversed sharply later in the week as US yields exploded and Oil eased back on Chinese lockdowns.
Still market is expecting RBA to raise in June now so if the USD rally based on US Bond yields can stop or reverse then the AUD is in poll position to rally first.
Big cluster of support here with 0.7380 old support and 0.7350 the trendline support for the whole uptrend.
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AUD/USD rally was reversed sharply later in the week as US yields exploded and Oil eased back on Chinese lockdowns.
Still market is expecting RBA to raise in June now so if the USD rally based on US Bond yields can stop or reverse then the AUD is in poll position to rally first.
Big cluster of support here with 0.7380 old support and 0.7350 the trendline support for the whole uptrend.
easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration.
“Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party."
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