AUDUSD set for going lower
In recent days, the market is paying particular attention to the US 10 year treasury yield. Fed is looking for inflation to reach 2.4% in the year-end, the 10-year Treasury yield should be above 2% easily. The yield spread and fund flow to USD with better fundamentals and advantage on the yield. DXY is likely to test 38.2% rebound resistance at 94.4 or 50% at 96. so AUDUSD is likely testing support at 0.75 or even 0.71.
MACD is divergence, and so the upside chance is low. AUDUSD has already broken below the uptrend line in purple and expecting AUDUSD will break below the yellow line soon. a 23.6% retracement will test 0.75, 38.2% retracement will be 0.71.
MACD is divergence, and so the upside chance is low. AUDUSD has already broken below the uptrend line in purple and expecting AUDUSD will break below the yellow line soon. a 23.6% retracement will test 0.75, 38.2% retracement will be 0.71.
happy trade