The AUD/USD rebounded from multi year low level of 0.6820, currently at 0.6925.
The AUD/USD is in a significant downtrend and could see further downside, driven by the DXY strength. This downward move is inspite of a hawkish RBA, indication for further rates increases and improving employment data.
Key news to pay attention to:
- Monetary Policy Meeting Minutes (Tuesday morning)
- Wage Price Index (Wednesday morning)
- Employment Change & Unemployment Rate (Thursday morning)
Unemployment rate is expected to reach 3.9%, the lowest rate based on historical data
Look for short term selling opportunities in the AUD/USD, especially if it breaks below 0.6900 towards support level of 0.6820. But keep in mind that significant downside might be limited.
The AUD/USD is in a significant downtrend and could see further downside, driven by the DXY strength. This downward move is inspite of a hawkish RBA, indication for further rates increases and improving employment data.
Key news to pay attention to:
- Monetary Policy Meeting Minutes (Tuesday morning)
- Wage Price Index (Wednesday morning)
- Employment Change & Unemployment Rate (Thursday morning)
Unemployment rate is expected to reach 3.9%, the lowest rate based on historical data
Look for short term selling opportunities in the AUD/USD, especially if it breaks below 0.6900 towards support level of 0.6820. But keep in mind that significant downside might be limited.
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