Aussie Continues to See Volatility AUDUSD $AUDUSD forextrading
Ultimately, this is a market that I think will see a lot of noisy behavior, mainly due to the fact that we are still trying to price and what the global economy is going to look like. Keep in mind that the Australian dollar is highly sensitive to the global economy, as the Australian economy is so heavily dependent on commodity exports.The market has bounced quite significantly from the lows, but we are still very much in a downtrend from the past several months. The 0.
Looking at this chart, we have a scenario where we are trying to recover, but it’s possible this has simply been a short-term bounce just to build up more momentum. If we get a sudden “risk-off” type of situation, then it is likely that the Aussie continues to drop much further. At this point, you need to pay close attention to the US dollar in general, because that could give you a “heads up” as to where we are going next. Keep in mind that breaking below the 0.
While bond markets are starting to price in the possibility of fewer hikes than originally thought, this is still a very fluid situation.
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