AUDUSD bottom should be in but...
This week's price traded rather choppily. We're expecting some upwards movement as the US senate came to a consensus to intermittently raise the debt ceiling until December 2021. However, uncertainty will continue to loom in the market if the democrats are not given a free pass when it comes to the debt ceiling situation.
BULL CASE
We should see a retest of the 0.75 levels before any major resistance is met afterwhich we will wait and see what the price action does.
BEAR CASE
It is possible that price gives us another leg down to test 0.70 where we will get strong support towards the upside.
BULL CASE
We should see a retest of the 0.75 levels before any major resistance is met afterwhich we will wait and see what the price action does.
BEAR CASE
It is possible that price gives us another leg down to test 0.70 where we will get strong support towards the upside.