Sforex
Short

AUDUSD: NEED A CORRECTION

FX:AUDUSD   Australian Dollar/U.S. Dollar
399 0 4
This week, I am very busy, I have a lot of works to finish before Good Friday and Easter Day, I have to prepare for my religion,, so I am sorry I cannot post my idea. I will post more after Easter Day.

I quickly post my short idea for AUDUSD             next week.

In the long term, I still believe A/U would touch the benchmark 0.95 , but it needs a correction now after a long rally.

Next week, there is just two main report affecting A/U :
- RBA Minutes
- China GDP

With RBA Minutes, I think there is no change in tone of RBA comment : They still keep neutral stance. It means nothing new.

Regarding China GDP, I believe it would be negative, a lot of indicator of China showed China continuely confronts stagnation.

neutral stance of RBA + bad China economic will impact nagatively on A/U. Moreover, US economic data also contribute to this correction. Next week, a lot of FED member speeches , US Retail Sales, and US CPI             , Beige Book would benefit for US dollar             .

- US CPI             ; import price index , export price index , producer price index , Consumption Expenditure index show a pickup of inflation, so US CPI             on Tuesday will beat the forecast : 1.5% for US CPI             .
- Retail Sales: it most likely is positive, Auto Sales expanded last month will contribute to pickup of US Retail Sales. You can check Redbook to check Retail Sales, Redbook showed a positive number ofr Retail Sales.

Technical Analysis:
- A lot of Sell signal I show on the chart.

Divergence appears in RSI , Stoch , and CCI .

I will Short A/U to 23.6% Fib retracement at 0.9270

Good luck all traders : Have a good weekend of Easter Day.



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