jarthoben
Short

AUDUSD takes a pause, but probability favours the downside

FX:AUDUSD   Australian Dollar/U.S. Dollar
124 0 2
Fundamental - RBA indicates no immediate need to raise interest rates
Economic data - Aussie CPI             falls short, China PMI contracting
Technical - AUDUSD             breaks through 50SMA and heads toward 200SMA on 4HOUR chart

Usually would take this pause as an opportunity to go Long, but with the recent Fundamentals and Data releases, probability favours the downside.

Note: HUGE week ahead for economic data releases. AUD won't stay where it is.

US data - Pending Home Sales m/m, CB             Consumer Confidence, ADP Non-Farm Employment Change, Advance GDP q/q, FOMC Statement, Fed Chair Yellen Speaks, Unemployment Claims, ISM Manufacturing PMI, Non-Farm Employment Change, Unemployment Rate

Aussie data - PPI q/q

China data - Manufacturing PMI
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