Australian Economy: Monitor key indicators like GDP growth, unemployment rates, and inflation. The Reserve Bank of Australia (RBA) interest rate decisions and statements can significantly impact the AUD. US Economy: Pay attention to the Federal Reserve's interest rate policy, inflation data (CPI), and employment reports (NFP). These factors heavily influence the USD. Technical Analysis:
Price Action: Look at recent price movements, key support and resistance levels, and chart patterns (e.g., trends, reversals). Indicators: Use indicators like moving averages, RSI, and MACD to assess momentum and potential entry/exit points. Sentiment Analysis:
Check the positioning of traders through COT reports or sentiment indicators to gauge market sentiment and potential reversals.
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