AUD - Strong Bearish
1️⃣ New South Wales Australia reported 1,029 cases of local infection. Meanwhile, lockdowns in the state were extended until September 10.
2️⃣ Market sentiment turned negative after Australia reported more than 1 thousand cases of infection.
3️⃣ As a high-beta currency, the AUD is under pressure from negative sentiment.
4️⃣ Retail sales in Australia declined by 2.7% in July 2021, compared with market forecasts of a 2.3% fall and after a final 1.8% drop in June.
JPY - Strong Bullish
1️⃣ Risk-Off sentiment benefits the safe-haven JPY.
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Technical
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We are selling the AUDJPY after its break the support levels.
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Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
1️⃣ New South Wales Australia reported 1,029 cases of local infection. Meanwhile, lockdowns in the state were extended until September 10.
2️⃣ Market sentiment turned negative after Australia reported more than 1 thousand cases of infection.
3️⃣ As a high-beta currency, the AUD is under pressure from negative sentiment.
4️⃣ Retail sales in Australia declined by 2.7% in July 2021, compared with market forecasts of a 2.3% fall and after a final 1.8% drop in June.
JPY - Strong Bullish
1️⃣ Risk-Off sentiment benefits the safe-haven JPY.
=====
Technical
=====
We are selling the AUDJPY after its break the support levels.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
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❌ TRADE HAS HIT SL
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High-beta currencies soared after Powell's speech.
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High-beta currencies soared after Powell's speech.