Hello,
Technical Analysis: USD index has dropped sharply and will have correction this week, Sending AUDUSD DOWN. AUD has advanced well last week and RSI is over-bought in H4, now due to minor correction.
DROP to 0.72 or even better 0.7150 WOULD BE A GREAT PLACE TO INITIAL LONG TRADE.
Fundamental:
1. AUD is heavily effected by USA - CHINA trade DEAL, We expect good news to push AUssi much higher.
2. BOA has made it clear no rate hike and next move is up, However, This coming decision is expected to keep rate as is.
3. Economy in Australia is showing better results, This will effect the tone of BOA at the conference.
4. FED has made it clear not much rate hikes will be as expected, possibly not at all or one only, This weakness the USD.
Conclusion,
I'm very bullish on AUDUSD from levels of 0.7150 & 0.72 to Target 0.7450.
Extra benefit: AUDCHF will be great to buy.
PLEASE LIKE IF IT BENEFITS YOU.
Technical Analysis: USD index has dropped sharply and will have correction this week, Sending AUDUSD DOWN. AUD has advanced well last week and RSI is over-bought in H4, now due to minor correction.
DROP to 0.72 or even better 0.7150 WOULD BE A GREAT PLACE TO INITIAL LONG TRADE.
Fundamental:
1. AUD is heavily effected by USA - CHINA trade DEAL, We expect good news to push AUssi much higher.
2. BOA has made it clear no rate hike and next move is up, However, This coming decision is expected to keep rate as is.
3. Economy in Australia is showing better results, This will effect the tone of BOA at the conference.
4. FED has made it clear not much rate hikes will be as expected, possibly not at all or one only, This weakness the USD.
Conclusion,
I'm very bullish on AUDUSD from levels of 0.7150 & 0.72 to Target 0.7450.
Extra benefit: AUDCHF will be great to buy.
PLEASE LIKE IF IT BENEFITS YOU.
