AUDUSD ~ Risk Off Sentiment: Stuck In Limbo into EOY (2H)

Updated
AUDUSD chart mapping/analysis.

Aussie Dollarydoos struggling to regain bullish momentum after early December peak.

Trading scenarios into EOY:
  • Preliminary trading range = ~66.20 to ~65.25.
  • Break above ~66.20 = regain bullish momentum.
  • Bullish target(s) = re-test descending trend-line (white dotted) / upper range of ascending parallel channel (green).
  • Break below ~65.25 = extend bearish capitulation.
  • Bearish target(s) = 61.8% Fib / lower range of ascending parallel channel (green) confluence zone.
  • 200SMA also acting as dynamic resistance, reinforcing bearish rollover.
  • Major macro economic news this week = higher probability of implied volatile swings in either direction.
Comment
AUDUSD chart update (Thurs 14/12):
  • Price action ripping in response to DXY dump post-FOMC.
  • Break above/held descending trend-line (white, dotted) = conviction in chart mapping (so far).
  • Consolidation just below upper range of ascending parallel channel (green) raises probability of potential parabolic move above parallel channel, or capitulate back into choppy range, TBC.
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