AUDUSD can be expected to move higher with a price target of 0.69
Short term USD weakness along with commodity prices rising will fuel AUDUSD gains.
With US inflation improving, the Federal Reserve is expected to start cutting rates in September. This may lead to the USD weakening. Expect bearish or sideways movement on the DXY.
I will be looking for pullbacks on the lower time frames to get into long positions on this pair.
This week we have some important news events that will affect this pair:
Monday - US Empire State Manufacturing Index, Fed Chair Powell Speaks
Tuesday - US Core Retail Sales m/m, Retail Sales m/m
Thursday - Australia Employment Change, Unemployment Rate, US Unemployment Claims
Short term USD weakness along with commodity prices rising will fuel AUDUSD gains.
With US inflation improving, the Federal Reserve is expected to start cutting rates in September. This may lead to the USD weakening. Expect bearish or sideways movement on the DXY.
I will be looking for pullbacks on the lower time frames to get into long positions on this pair.
This week we have some important news events that will affect this pair:
Monday - US Empire State Manufacturing Index, Fed Chair Powell Speaks
Tuesday - US Core Retail Sales m/m, Retail Sales m/m
Thursday - Australia Employment Change, Unemployment Rate, US Unemployment Claims
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.