Two scenarios for Australia
According to Fundamental News, there are two scenarios for the Australian dollar against the US dollar.
With the release of US unemployment data, the value of the dollar plummeted, and the devaluation of the dollar caused an upward trend in other currency pairs, where the US dollar was on the right.
Mr. Powell will begin his speech in a few minutes, which he says will either cause the dollar to depreciate further or the dollar to return to its uptrend.
Given this, two scenarios can be considered for the Australian dollar:
Scenario 1: The dollar will fall and the price chart will return to 0.726 and even higher by breaking the resistance.
Scenario 2: The dollar rises and the price chart returns to its previous level of 0.7172
With the release of US unemployment data, the value of the dollar plummeted, and the devaluation of the dollar caused an upward trend in other currency pairs, where the US dollar was on the right.
Mr. Powell will begin his speech in a few minutes, which he says will either cause the dollar to depreciate further or the dollar to return to its uptrend.
Given this, two scenarios can be considered for the Australian dollar:
Scenario 1: The dollar will fall and the price chart will return to 0.726 and even higher by breaking the resistance.
Scenario 2: The dollar rises and the price chart returns to its previous level of 0.7172
Trade closed: target reached