+630 Points reached in AUDUSD Sell signal after the breakout of the Uptrend line (Ascending channel)

AUDUSD Analysis

AUDUSD has broken the bottom level of the Uptrend line (Ascending channel) in the 1-hour timeframe chart and it continues to fall down.

After the confirmation of downward movement, AUDUSD Sell signal is given.

AUDUSD has reached the take profit Target Successfully.

630 points reached in AUDUSD sell signal

Australian Dollar

China Australia Economy butterfly

US, EU, UK and Canada imposed sanctions on Chinese officials as Human rights violation Xinjiang Region.

China takes revenge actions against the EU as Tariffs and escalated other diplomatic tensions. North Korea started their Rocket launcher in Inter Korean Border of Islet of Chagrin, this made worry for Global risk sentiment.

So, the Investors again jumped for heaven currencies like the US Dollar and Japanese Yen, and outflow money from Riskier Currencies like the Australian Dollar.

This is the reason the Australian Dollar remains lower for 2- 3 months until this news gets calmed.

US Dollar

US Dollar stronger against counterparts and strongest gain of 8.4% in a single day against Turkish Lira.

This is because Turkish President Recep Tayyip Erdogan removed his Hawkish central bank Governor from office immediately.

Turkish President Recep Tayyip Erdogan  

This dismissal of the Central bank Governor happened just in a 4-month role of activity, and President decided after Governor announced the hawkish rate to combat inflation rates.

Turkish Central bank

Now President has been appointed new Ruling party Governor with a Dovish mindset and Supporting to Government policies and low-interest rates to be maintained by the person filling in the seat and without remaining reserves in Foreign currencies.

And this hawkish tone of Lira may be harmful to Domestic currency.

US Wall street

Due to this, US Dollar demand created more for fears of Newly Dovish appointed Governor. This turmoil spread to emerging markets and other currencies to weaken against the US Dollar.

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