AUD/USD bulls are not out of the woods yet
After falling heavily during the Asian session, AUD/USD has turned positive for the day but
the bulls are not out of the woods yet as the price is still under the crucial moving average
in the daily chart.
Audusd being a commodity and risky currency is directly tied to the sentiment in the equity
markets. If the sentiment deteriorates, AudUsd will fall further as well. There is a high chance
of Aud/Usd falling to 0.67.
So, bulls are still not in charge here.
the bulls are not out of the woods yet as the price is still under the crucial moving average
in the daily chart.
Audusd being a commodity and risky currency is directly tied to the sentiment in the equity
markets. If the sentiment deteriorates, AudUsd will fall further as well. There is a high chance
of Aud/Usd falling to 0.67.
So, bulls are still not in charge here.