Rocketman
Long

AUDUSD: Inflation & Wages & Beyond Technical Analysis

FX:AUDUSD   Australian Dollar / U.S. Dollar

Fundamental:
According to Business Insider and other news outlets and the RBA itself, the RBA appears confident that the Australian economy will grow "faster in 2018 than in 2017;" that is, approximately 3%. Retail sales boded well and are stong. Inflation is 1.9%, yet still below their 2% target, like most central banks. The RBA kept its rates the same: 1.5%. They will observe the inflation and wage situation a little bit longer in order to determine whether or not to raise rates. Some news outlets say November 2018 will be another decision point.

Technical:
Looking a the daily chart of AUDUSD , it seems to be bouncing from a 78% fib level after a rally that makes a new higher high. This has been an occurrence since January 2016. We are at these 61.8% and 78% level once again.
Now, I have no idea where the fall will stop. No one does, but I am waiting for evidence to hop in.

Other Supporting Inclinations:
The US Dollar has falling since 2017 because of political factors contributing to the fall of the dollar. Given that a major policy change will not change anytime soon, this will be another supporting factor to support this potential trade should it be taken.

As a fundamental chartist just like a chemist, mixing random chemicals of charts are a hazard to your financial health. With this foresight I go forward with an open mind observing market behavior.
Trade active: I put in half. I will add more later when more data comes in.
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