A Huge Downtrend Incoming!? AUD/USD - Check Out This Forex Pair! Weekly Trade Idea on Australian Dollar To US Dollar

A Huge Downtrend Incoming!? AUD/USD - Check Out This Forex Pair! Weekly Trade Idea on Australian Dollar To US Dollar

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.

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 - 1

Saul Lokier

Saul Lokier

Saul is a professional Forex Trader for over 10 years.

Characterized by a simple approach to trading

He manages funds for International Forex Funds, as well as personal accounts.

He is the former Head Trader at FXsmartrader Academy.

In addition, he performs as General Manager and Portfolio Manager at The5ers Fund.