AUD/USD positing less bearish but spot FX paints another story. Bears looking for a significant weekly correction. Net AUD short positions dropped last week but remain in negative territory despite the relative strength of the AUD on the spot market. China/Australian tensions and the RBA’s QE policy could be tempering the attraction of the AUD. However, it is really a US dollar and yields story out there and the following is a top-down analysis that offers a bearish bias for the Aussie. DXY monthly chart As illustrated, the greenback has plenty of room to rally if it is going to test prior resistance. As for the Aussie, the weekly chart us clear as day and is overdue a significant correction. Weekly chart Daily chart Bear are on the approach of a test of critical support. A break below it will open the prospects of a continuation to the weekly targets. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US dollar: Structurally bearish in medium to long-term – Goldman Sachs FX Street 1 year AUD/USD positing less bearish but spot FX paints another story. Bears looking for a significant weekly correction. Net AUD short positions dropped last week but remain in negative territory despite the relative strength of the AUD on the spot market. China/Australian tensions and the RBA’s QE policy could be tempering the attraction of the AUD. However, it is really a US dollar and yields story out there and the following is a top-down analysis that offers a bearish bias for the Aussie. DXY monthly chart As illustrated, the greenback has plenty of room to rally if it is going to test prior resistance. As for the Aussie,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
