December 10, 2022

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AUD/USD battles back to unchanged on the day. What’s next

1 min read

Second doji star on the chart

Second doji star on the chart

AUD/USD is an interesting conundrum right now.

Domestically, lockdowns are spiraling and that’s leading to talk of an RBA taper reversal. Meanwhile, the broader market has shrugged off covid concerns in the past two days, bidding up risk assets and putting a floor under the Australian dollar.

At current levels, that’s putting a double doji at the lows of the year, a potential reversal signal. There are still seven hours of trading left in today’s session but it’s an interesting place to watch as everyone looks to the technicals for indications on what’s coming next.

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