Valuegrowth
17-06-2023, 03:24 PM
It’s interesting to see some strength in AUD.
As I want to study currency market trends,I took a position on the following ETF(AUDS).
https://www.betashares.com.au/fund/strong-australian-dollar-fund/
Is it a wise decision or a bad decision? In my view, no currency will go straight up or down. So, I am expecting kind of pullback or correction in USD and planing to hold my position until AUD becomes bullish.
After I bought it has dropped, but yesterday it upped by 2.2%.
https://www.dailyfx.com/news/australian-dollar-outlook-a-sinking-us-dollar-floats-the-aud-boat-20230617.html
"The Australian Dollar smashed through the resistance ceiling to make a 4-month high last week after the US Dollar (https://www.dailyfx.com/us-dollar-index) collapsed. Since the start of June, AUD/USD has gained in 15 out of 17 sessions.
After making a clean break above an ascending trend line, AUD/USD got above all short, medium and long-term daily Simple Moving Averages (SMA) (https://www.dailyfx.com/education/moving-averages) and bullish momentum took hold."
Cheers
As I want to study currency market trends,I took a position on the following ETF(AUDS).
https://www.betashares.com.au/fund/strong-australian-dollar-fund/
Is it a wise decision or a bad decision? In my view, no currency will go straight up or down. So, I am expecting kind of pullback or correction in USD and planing to hold my position until AUD becomes bullish.
After I bought it has dropped, but yesterday it upped by 2.2%.
https://www.dailyfx.com/news/australian-dollar-outlook-a-sinking-us-dollar-floats-the-aud-boat-20230617.html
"The Australian Dollar smashed through the resistance ceiling to make a 4-month high last week after the US Dollar (https://www.dailyfx.com/us-dollar-index) collapsed. Since the start of June, AUD/USD has gained in 15 out of 17 sessions.
After making a clean break above an ascending trend line, AUD/USD got above all short, medium and long-term daily Simple Moving Averages (SMA) (https://www.dailyfx.com/education/moving-averages) and bullish momentum took hold."
Cheers