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AUDUSD ascending channel provides buying opportunities

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    As we know AUDUSD is a hard commodity currency.Basically, when its risk-on environment, commodities prices tend to increase, and traders go long AUD due to that factor. When commodities prices go up, Stock Markets go up and there is demand for positive swaps on AUD pairs currently as opposed to JPY (JPY weakened today). AUD bounce has also been stimulated by the PBOC, Oil and RBA. Oil is connected to commodity currencies so it gave AUD additional boost. Technically AUDUSD is showing a possible

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