It’s turning into a win-win week for AUD/USD bears as industrial metals are thumped, the Fed is on course for more hikes and technical levels are shattered. If the signal from the MACD is foreshadowing a repeat of the move in December, then AUD/USD could be heading back toward the 0.72 area. One- month risk reversal options are not yet reflecting a shift toward Aussie puts, but if they do it will add to downside pressure on the pair.
Source: Bloomberg
Trader Bozhidar Arabadzhiev
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