AUDUSD Update April 2017
Has been taking some time this congestion
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I have a sense that next week is critical for AUDUSD, oil, rates, and reflation overall.
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Today AUD survived
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Starting the week with some move
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FED meeting today/tomorrow
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Holding 0.74 so far with 2 consecutive hammer candles.
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Bounces off what looks like a critical level and lets see whether can overcome 0.74
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Movement here overnight
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So just like oil breakdown was overextended, so recovering. No surprise given same underlying factor exposure
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Closed just below the downtrend line. Critical time coming for the bullish case. Make or break
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Net spec positioning barely long from massively long. Bullish
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Good action today
