A Huge Downtrend Incoming!? AUD/USD - Check Out This Forex Pair! Weekly Trade Idea on Australian Dollar To US Dollar
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USD raised its rates in March and signalled 6 more hikes in the near future. These are very bullish signs for the USD whereas the RBA has dropped "Patient" from their policy statement signalling a possible 2022 hike
Week: 25-29.04.2022
USD signals 6 more rate hikes.
Key Levels:
- Resistance 0.745
- Support 0.718
Trend AUD/USD.
Bearish
Overall trend recently has been to the downside on the pair, I think this trend will continue into the near future and breaking lower lows as it moves.
Call to Action/Trade Idea
Wait for price to retrace and test the demand for the product, if demand is weak, join the force pushing to the downside.
