As dollar approaches resistance, AUD is approaching support
As dollar approaches resistance, what does it mean for dollar based pairs?
well, Dollar based pairs are gonna drop as the dollar drops. Right it is at its all time high this year, so we are looking for a sustained drop. possible till next year. What happens to pairs where dollar is not a base pair? Well, as shown on the chart AUD is like to pounce from the current support all the way to the top, possibly 400 pips. Pairs like USDJPY, USDCAD, USDCHF, Will probably be to the nearest support.
well, Dollar based pairs are gonna drop as the dollar drops. Right it is at its all time high this year, so we are looking for a sustained drop. possible till next year. What happens to pairs where dollar is not a base pair? Well, as shown on the chart AUD is like to pounce from the current support all the way to the top, possibly 400 pips. Pairs like USDJPY, USDCAD, USDCHF, Will probably be to the nearest support.