The aussie has formed a huge rising wedge during last months, there was a fakeout las week and I think price could drop during next weeks of June. One of the first target is the 200EMA at 0.665 and the second target is (as you can see in the chart) is the 50% fibonacci retracement of the leg started in March.
Australia-China tensions are becoming stronger and could have an impact on global markets, Westpac announced that Australia GDP will probably shrink by 4% during the 2020 and global slowdown might still have effects on indices and riskier currencies such as aud,nzd.
I hope you enjoy my analysis, follow me to get more signals.
Audusd short has almost a risk/reward ratio of 3 , which is very good for this kind trade anyway remeber to risk 1% of your capital.
Have a nice trading!!!
Australia-China tensions are becoming stronger and could have an impact on global markets, Westpac announced that Australia GDP will probably shrink by 4% during the 2020 and global slowdown might still have effects on indices and riskier currencies such as aud,nzd.
I hope you enjoy my analysis, follow me to get more signals.
Audusd short has almost a risk/reward ratio of 3 , which is very good for this kind trade anyway remeber to risk 1% of your capital.
Have a nice trading!!!