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AUD/USD SHORT
The ever rising COVID-19 cases in Australia has seen the Aussie turn bearish since last week. We might see this going on probably through the rest of the year. The drop was overdue anyways.
The U.S 10-Year bond yield(US10Y) is showing bullish potential; 50MA crossover the 200MA on the DAILY timeframe. The Dow Jones Industrial Average(US30) and the S&P500 are both in an uptrend ~ Dollar Index(DXY) expected to follow suit ~ which moves the USD too.
That plus the bearish breakout seen on the AUDUSD chart gives more reason to SHORT the pair (long-term)!
Expect pullbacks along the drop, they're inevitable.
:-)
The U.S 10-Year bond yield(US10Y) is showing bullish potential; 50MA crossover the 200MA on the DAILY timeframe. The Dow Jones Industrial Average(US30) and the S&P500 are both in an uptrend ~ Dollar Index(DXY) expected to follow suit ~ which moves the USD too.
That plus the bearish breakout seen on the AUDUSD chart gives more reason to SHORT the pair (long-term)!
Expect pullbacks along the drop, they're inevitable.
:-)
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