AUDUSD Long... USD Rate Hike still not expected anytime soon
Fundamentals/Market Sentiment
RBA recently reduced interest rate but AUD seems still strong.
USD rate hikes are not expected anytime soon... will USD data continue to show signs of weekness?
Technical
A new Elliot Wave Formation is possible on previous Resistance turned Support Zone;
200 Simple Moving Average line provides possible additional Support;
Stochastics shows AUDUSD Oversold;
Risk Reward > 1 : 2
Timing might be good to consider an AUDUSD Long Position...
RBA recently reduced interest rate but AUD seems still strong.
USD rate hikes are not expected anytime soon... will USD data continue to show signs of weekness?
Technical
A new Elliot Wave Formation is possible on previous Resistance turned Support Zone;
200 Simple Moving Average line provides possible additional Support;
Stochastics shows AUDUSD Oversold;
Risk Reward > 1 : 2
Timing might be good to consider an AUDUSD Long Position...