AUD/USD incoming Retracement(80 pips)
Hello Traders
2 major events will affect AUD/USD in the upcoming week.
First RBA Interest Rate decision.
Second FED Interest Rate decision.
So we should expect high volatility in the following week.
So here is why we are bearish on AUD/USD:
1- Iron ore price dumped hard.
2- 0.25 bps RBA interest Rate has been already priced.
3- 0.75 bps FED interest Rate will affect minor pairs like AUD & NZD strongly.
Technically:
1- RSI and Stochastic are dropping.
2- Price has touched a strong resistance at 0.65.
3- Also Price has made a lower low that indicates a bearish trendline in the short term.
We expect to visit ZONE 1 one more time in the next few days.
Targets have been shown in the chart.
If you like it then Support us by Like, Following and Sharing.
Thanks For Reading
Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
2 major events will affect AUD/USD in the upcoming week.
First RBA Interest Rate decision.
Second FED Interest Rate decision.
So we should expect high volatility in the following week.
So here is why we are bearish on AUD/USD:
1- Iron ore price dumped hard.
2- 0.25 bps RBA interest Rate has been already priced.
3- 0.75 bps FED interest Rate will affect minor pairs like AUD & NZD strongly.
Technically:
1- RSI and Stochastic are dropping.
2- Price has touched a strong resistance at 0.65.
3- Also Price has made a lower low that indicates a bearish trendline in the short term.
We expect to visit ZONE 1 one more time in the next few days.
Targets have been shown in the chart.
If you like it then Support us by Like, Following and Sharing.
Thanks For Reading
Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)