AUDUSD is coming down to strong technical and psychological support at 0.7000. Stock market in US continue bearish after FOMC and NFP last week. As most trader prefer to move to a risk off strategy and holding US dollar, we might expect a continues drop if price break 0.7000 support level.
What to watch time week: US CPI on Wednesday
Silver price is heading to a strong support on daily chart, on weekly chart silver was holding strong on 100MA. If price do hold on this area, we could get a great position for long term rally in silver, however if price break the support zone, silver may go down to below $20.
I will keep monitoring the price action on this pair as we have FOMC meeting this coming...
Price has dropped hard yesterday after dovish speech from FED, however I’m still bullish in USD after the GDP released. We got Retail sale release on Swiss and SNB Chairman Jordan speech tomorrow, let’s see how things goes.
Current price has moved to the 200MA line and we hope it respect the line and start rally from there.
