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Nov 22 - 01:55 AM

AUD/USD - Bounce Hasn't Yet Ended Downtrend, Bearish Bias

By Ewen Chew  —  Nov 22 - 01:20 AM
  • AUD/USD rebounds to 0.7251 but bearish forces still in play

  • Negative chart indicators will attract selling on spikes

  • Ceiling of Bollinger downtrend channel at 0.7288 is a key barrier

  • Coincides with daily Ichimoku Cloud resistance, forming strong top

  • Deflection lower from 0.7288 will attract bears to add to bets

  • Potential for China yuan intervention may hurt AUD nL1N2SD073

  • For more click on FXBUZ




Source:
Refinitiv IFR Research/Market Commentary

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