Fundamental Outlook:
Current Australia Interest Rate: 4.35% (Weaker compared to USD)
Current US Interest Rate: 5.5% (Stronger compared to AUD)
Based on the interest rate difference, AUDUSD is bearish.
The following upcoming news events and data releases are crucial to watch, as they may impact AUDUSD's trajectory:
May 27, 2024: Bank Holiday (low market activity expected)
May 28, 2024: CB Consumer Confidence (impact on USD sentiment)
May 29, 2024: No significant news or data releases
May 30, 2024: Preliminary GDP q/q, Unemployment Claims, Pending Home Sales m/m
May 31, 2024: Core PCE Price Index m/m (a major inflation indicator for the USD)
Technical Outlook:
The fifth wave completion suggests a reversal or correction phase is imminent.
The second wave level is identified as the probable retracement target.
A stabilization below 0.66530 is critical for confirming the bearish setup.
Good luck guys!
Current Australia Interest Rate: 4.35% (Weaker compared to USD)
Current US Interest Rate: 5.5% (Stronger compared to AUD)
Based on the interest rate difference, AUDUSD is bearish.
The following upcoming news events and data releases are crucial to watch, as they may impact AUDUSD's trajectory:
May 27, 2024: Bank Holiday (low market activity expected)
May 28, 2024: CB Consumer Confidence (impact on USD sentiment)
May 29, 2024: No significant news or data releases
May 30, 2024: Preliminary GDP q/q, Unemployment Claims, Pending Home Sales m/m
May 31, 2024: Core PCE Price Index m/m (a major inflation indicator for the USD)
Technical Outlook:
The fifth wave completion suggests a reversal or correction phase is imminent.
The second wave level is identified as the probable retracement target.
A stabilization below 0.66530 is critical for confirming the bearish setup.
Good luck guys!
Pay attention to price. If to stabilises below 0.66530, we will see further bearish movement.