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Australian Dollar Outlook - correction to the possible daily bearish reversal

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by , 04-18-2022 at 01:32 AM (432 Views)
      
   
The Australian Dollar has strong fundamentals, but a hawkish Fed has favoured the US Dollar up to now. The fundamental backdrop for AUD remains solid, although it is not showing up in all of data at the moment.

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Daily price is on secondary correction within the primary bullish market condition: the price is trying to cross the bearish triangle pattern with 0.7391 support level to below for the secondary correction to be continuing up to the daily bearish reversal to be started.

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