After slight surprise in inflation report from US initially sent the dollar soaring, retail sales declined and the december reading was revised down (potential Stagflation). Regardless the $ & fed interest rate expectations have been inversely correlated since late 2017 (see my DXY post).
AUDUSD has broken this pitchfork that was superb for the downside action, and now could act as support if we ever make it down there. 38.2% fib retrace of (9/2 -> 15/2), 38.2% of the december 2017 -> january 2018 climb & that pivot area around ~$0.789 will be first target to get long.
AUDUSD has broken this pitchfork that was superb for the downside action, and now could act as support if we ever make it down there. 38.2% fib retrace of (9/2 -> 15/2), 38.2% of the december 2017 -> january 2018 climb & that pivot area around ~$0.789 will be first target to get long.
