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 , 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.
- A lot of Sell signal I show on the chart.
Divergence appears in , , and .
I will Short A/U to 23.6% Fib retracement at 0.9270
Good luck all traders : Have a good weekend of Easter Day.