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With the outlook strengthening for steady growth in the US economy and concerns rising over the moderation of inflation due to the increase in international oil prices, there is growing worry that the timing of the Federal Reserve's interest rate cuts may be delayed. Additionally, Mary Daly, the President of the Federal Reserve Bank of San Francisco, dampened market expectations by stating that three rate hikes are only a forecast and not a committed policy. Factors supporting a stronger US dollar are significant, and upcoming announcements of inflation indices and employment indicators will inevitably attract more attention.
- On April 3rd, the Eurozone's March consumer price index, US ADP non-farm employment change, and crude oil inventories will be released, along with a speech by Fed Chair Powell.
- On April 5th, the US March non-farm payrolls report will be released.
- On April 10th, the US March consumer price index and the minutes of the Federal Open Market Committee meeting will be released.
The price of AUDUSD has recently broken below the lower support line of the short-term uptrend, suggesting a continuation of the long-term downtrend, with a high likelihood of a decline towards the 0.62000 level. A significant descending triangle pattern is also visible, but until confirmation of a low point is observed, we will reassess after seeing movement around the 0.62000 level. Currently, we will focus on the potential decline towards the 0.62000 level following the downtrend.
In summary of the expected movements:
First, a decline to 0.64000 followed by a rebound towards the medium to long-term resistance at 0.66000 after the downtrend.
Second, a short-term decline to 0.62000 after breaking below 0.64000.
These two scenarios are currently the most probable, and we will adjust our strategy accordingly if there are any variables.
Please share your personal opinions in the comments. We kindly ask for your support through likes and subscriptions.
With the outlook strengthening for steady growth in the US economy and concerns rising over the moderation of inflation due to the increase in international oil prices, there is growing worry that the timing of the Federal Reserve's interest rate cuts may be delayed. Additionally, Mary Daly, the President of the Federal Reserve Bank of San Francisco, dampened market expectations by stating that three rate hikes are only a forecast and not a committed policy. Factors supporting a stronger US dollar are significant, and upcoming announcements of inflation indices and employment indicators will inevitably attract more attention.
- On April 3rd, the Eurozone's March consumer price index, US ADP non-farm employment change, and crude oil inventories will be released, along with a speech by Fed Chair Powell.
- On April 5th, the US March non-farm payrolls report will be released.
- On April 10th, the US March consumer price index and the minutes of the Federal Open Market Committee meeting will be released.
The price of AUDUSD has recently broken below the lower support line of the short-term uptrend, suggesting a continuation of the long-term downtrend, with a high likelihood of a decline towards the 0.62000 level. A significant descending triangle pattern is also visible, but until confirmation of a low point is observed, we will reassess after seeing movement around the 0.62000 level. Currently, we will focus on the potential decline towards the 0.62000 level following the downtrend.
In summary of the expected movements:
First, a decline to 0.64000 followed by a rebound towards the medium to long-term resistance at 0.66000 after the downtrend.
Second, a short-term decline to 0.62000 after breaking below 0.64000.
These two scenarios are currently the most probable, and we will adjust our strategy accordingly if there are any variables.