Technical Analysis: Still in bearish trend, the broken swing low at price 66¢ make this pair more clear it's direction continue to downward. Price 68¢ seems like is the strongest resistance at least for several month in early of this year and price 66¢ seems like the strongest support but based on my own experience trade this pair for 4 years (also can consider to some other major pairs), if it showing no strong rejection (no candlestick rejected with shadow minimum on H4 chart), when price hit certain level, that's mean that price is not strong, the same goes to price 66¢, we can see buyers (big players) seems like didn't much interested to buy at this price; almost all the time candlestick tends to consolidating (close above & below exact the price) at this level. For me, this mean the price is not strong even to build up SNR levels and, we already saw it when the price pullback from 65¢, there was almost no reactions when it hit 66¢. That's why even if it going down again (pullback) to price 66¢, it's not strong to buy, I don't consider to buy at 66¢ but maybe will looking for buy at 64¢ (more than 200 pips below). And yes, forex is game of probability, I could be right or wrong at the same time. We are playing with probabilities.
Fundamental Analysis: AUDUSD might be falling but the momentum not strong. Fundamental data also showing that uncertain at least for this month. If there positive data of unemployment rate, gdp, cpi, etc., are such important data to support this pair to break the 67¢ level. What do you guys think?
Fundamental Analysis: AUDUSD might be falling but the momentum not strong. Fundamental data also showing that uncertain at least for this month. If there positive data of unemployment rate, gdp, cpi, etc., are such important data to support this pair to break the 67¢ level. What do you guys think?