AUD/USD is currently re-testing a strong support-zone and could move up after confirmation!
Previous US-Inflation-Data have boosted yields and DXY (US-DOLLAR-INDEX) as the market is concerned about Jerome Powells recent statements saying "inflation is transitory".
This could cause chaos, volatility and so pullbacks in the forexmarket as NOONE knows how inflation is going to look like, thus we don`t know what the FED is going to say with its next statement.
However, in confluence we see DXY (US-DOLLAR-INDEX) at a strong resistance with an bargain hunter in equities (Risk-On-Sentiment) would be good for AUD/USD-Bulls.
let`s see, if we get a confirmation a good price to buy!
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