CPI will get released soon. I am still bearish in AUDUSD. If the blue levels can not defend price, then I will become bullish to a certain degree. Let’s see if price can find resistance for us to sell. Trade safe and always manage your risk!
Fair enough. But its going to take some major gyrations before I’d buy the ozzie over the dollar.
BTW, when AUD is rotating from extreme bearish to extreme bullish or vice versa, I look for what NZD is doing. It often moves first and furthest and highlights the way that AUD will follow. I don’t know if its only because its a smaller volume traded currency or economy or what. Just a thing that’s often seen.
Have you checked out AUDNZD during those times? That pair usually can tell you which one will move first and/or better.
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Yes. And I’ve noticed something similar also with EUR/CHF. The greater part of the Swiss economy depends on the Eurozone. The relationship is maybe a bit less close than AUD and NZD. I suspect the unification of multiple currencies into the EUR has made the CHF less of a long-term historic safe haven in comparative terms.
Your reasoning behind CHF is interesting.
Btw AUDUSD down with news. Bearish trend still pushing it seems.
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