After last wednesday's move of massive dollar sell off. My bias is the Market Movers want a weaker dollar in the short term at least. I have drawn up my targets for potential buying. Note if the Aussie Dollar breaks the last trend-line drawn. I will then change my viewpoint and will begin examining further DXY strength and AXY sell off. This is really just technical analysis. No fundamentals given. Although listening to the Secretary of Treasury speak at DAVOS saying the administration is not taking a strong dollar policy. My bias is that any of these moves of dollar strength is only correction. Afterall, what have we seen since January 1, 2017? A weaker dollar.
Trade active:
We hit the buy zone area. I believe we will have price movement to the upside. I am looking to take out the recent high. Target is .80150