AUDUSD- hits Four-Month high

[Valuegrowth]

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/s...n-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/austral...-20230617.html

"The Australian Dollar smashed through the resistance ceiling to make a 4-month high last week after the US Dollar 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) and bullish momentum took hold."

Cheers