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Although the dollar weakened with expectations of a rate cut following the April CPI announcement in the U.S., the current atmosphere is cooling down. It seems difficult to expect a sharp rise or fall until a new issue emerges. The FOMC meeting minutes will be released this week, and the U.S. April PCE inflation index will be announced next week. It's important to keep an eye on the results of these issues.
The UK's April consumer price index exceeded expectations at 2.3%.
The Federal Open Market Committee meeting minutes will be released on May 23rd.
The U.S. Q1 GDP (QoQ) will be announced on May 30th.
The Eurozone's May consumer price index and the U.S. April personal consumption expenditure price index will be announced on May 31st.
The AUDUSD is currently forming a price near the trend high. It seems that no catalyst has been found to break through the resistance of the high yet. If it breaks below the 0.66500 line, it is likely to establish a downward direction.
The current expectation is for a high resistance, with a pullback to the 0.63000 line, followed by a rebound to test the high resistance once more. Ultimately, we expect a medium to long-term decline to the 0.62000 line.
If the movement deviates from expectations, we will quickly adjust our strategy.
Please share your personal opinions in the comments. Also, don't forget to like and subscribe.
Although the dollar weakened with expectations of a rate cut following the April CPI announcement in the U.S., the current atmosphere is cooling down. It seems difficult to expect a sharp rise or fall until a new issue emerges. The FOMC meeting minutes will be released this week, and the U.S. April PCE inflation index will be announced next week. It's important to keep an eye on the results of these issues.
The UK's April consumer price index exceeded expectations at 2.3%.
The Federal Open Market Committee meeting minutes will be released on May 23rd.
The U.S. Q1 GDP (QoQ) will be announced on May 30th.
The Eurozone's May consumer price index and the U.S. April personal consumption expenditure price index will be announced on May 31st.
The AUDUSD is currently forming a price near the trend high. It seems that no catalyst has been found to break through the resistance of the high yet. If it breaks below the 0.66500 line, it is likely to establish a downward direction.
The current expectation is for a high resistance, with a pullback to the 0.63000 line, followed by a rebound to test the high resistance once more. Ultimately, we expect a medium to long-term decline to the 0.62000 line.
If the movement deviates from expectations, we will quickly adjust our strategy.