Last week, the Australian Dollar moved in a range, just underneath our trendline despite the news that the RBA kept the interest rate unchanged. In the coming week, we foresee the pair engaging some bullish momentum, break the trendline and reach the resistance area. Keep in mind that there can be many ups and downs as this move will act as a correction. Next week, keep an eye on the employment data numbers & the unemployment rate news as it may create some volatility for this pair Trade with care.
Best regards, Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.