Hey Traders, AUDUSD is trading in an ascending channel and now it seems to be approaching the channel support around 0.667 Demand and supply zone. if bulls are confirmed i would set the channel resistance as a target. fundamentally US data are still printing softs which have triggered more USD weakness and considering also that the market is expecting the US monetary policy to go less restrictive. We would also consider that stocks are trading positively and that should be a good driver for AUDUSD and NZDUSD upsides as they do trade in a positive correlation with the American indices.
Trade safe, Joe.
Trade safe, Joe.
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