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AUDUSD - green outlook makes sense
AUDUSD is breaking out of the triangle or in other words - becoming relatively volatile.
I like this green counter-response to yesterday's drop. Although USD is still perceived as safe haven and a currency to return to during the crisis, if Russia is to be removed from global supply chaines, Australia is one place to buy commodities. Hence the countries might want to exchange their currency for AUD to increase their buying power before others do.
I like this green counter-response to yesterday's drop. Although USD is still perceived as safe haven and a currency to return to during the crisis, if Russia is to be removed from global supply chaines, Australia is one place to buy commodities. Hence the countries might want to exchange their currency for AUD to increase their buying power before others do.
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