The Bears are in Control - AUDUSD

AUD/USD is looking extremely Bearish atm, following the bearish ascending trendline break to the downside, we saw the 0.74 handle tested. currently bulls are in control trying to regaing the 0.76 handle however, we remain short on the initial DS break, whilst we wait for the market to pullback and retest the 0.7650 zone which is a mid-round number for a further opportunity to short the Aussie.

Technically this is a superb chart, coupled with the bearish supporting fundamentals - Australia is in a rate cutting cycle meaning that the rate of return is declining for holding $AUD and at the same time the US is in a rate rising cycle - meaning that the returns are appreciating for holding USD - it's a textbook storm of political divergence coupled with a very bearish technical picture

AUDUSD

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