AUD/USD Finally Makes It to the Finish Line
Skerdian Meta • 1 min read
Our AUD/USD signal which we opened a couple of days ago finally reached the take profit target. It gave us shivers a few times as the price fell within 10 pips of our stop loss target, but the 50 SMA on the H4 provided support at first, then the 100 SMA turned into support.
It´s been tough with this one because one moment it looked really bullish, then after few hours, everything reversed and we were eyeing SL. But finally, it made it to the finish line.
I was expecting to have some volatility from the Australian economic data during the night and there was some indeed, but it went in our direction, thank God.
Australian construction work done fell by 0.2% and missed the expectations, but the market was fearing a miss in the wages numbers (inflation) I suppose. That´s why the 20-30 pips jumped in AUD pairs after the release.
Well, we´ll be happy to take it since it has been tough recently with all the uncertainty. By the way, you can witness this confusion by looking at the forex charts right now. The Euro, the Pound, and the CAD are losing ground against the Buck, while JPY, the Aussie, and the Kiwi are substantially higher. The correlation is out of the window now. It's so strange times, guys.