AUD/USD LONG/ BUY
🔰 Pair Name : AUD/USD
🔰 Time Frame : 4hrs
🔰 Scale Type : MID Scale
🔰 Direction : LONG/ BUY
📈🔍 Technical Breakout Alert: AUDUSD Shows Potential Upside Momentum! 🚀
From a technical standpoint, the AUDUSD has made an impressive breakout from its daily downtrend channel, followed by a successful retest above the order block on the daily chart. This indicates a promising opportunity for an upward move in the pair. 📈💪
However, let's not overlook the fundamental landscape. The Australian dollar is currently facing some headwinds due to disappointing Chinese CPI and PPI data, hinting at a lack of demand within the Chinese economy. As a major exporter to China, the Aussie dollar's fortunes are closely tied to the Chinese market. The decline in Chinese growth raises concerns about reduced commodity demand, which could expose the AUD to potential downside risks. ⚠️📉
On the flip side, the US dollar has rebounded after the recent non-farm payrolls (NFP) report, which, despite falling short of expectations, still suggests a robust labor market and maintains the possibility of a 25 basis point rate hike. This week, all eyes are on the upcoming US consumer price index (CPI) release, anticipated to show further declines in both headline and core metrics, potentially putting pressure on the USD. 🇺🇸📊
Taking these technical and fundamental factors into account, there's a compelling case for AUDUSD to potentially rally towards the daily support level, which aligns beautifully with the Fibonacci level of 61.8% around the 0.68891 area. 🌟📈
Trade wisely and keep a close watch on the evolving market dynamics! Good luck! 🍀💪
#AUDUSD #TechnicalBreakout #FundamentalAnalysis #TradingOpportunity
🔰 Time Frame : 4hrs
🔰 Scale Type : MID Scale
🔰 Direction : LONG/ BUY
📈🔍 Technical Breakout Alert: AUDUSD Shows Potential Upside Momentum! 🚀
From a technical standpoint, the AUDUSD has made an impressive breakout from its daily downtrend channel, followed by a successful retest above the order block on the daily chart. This indicates a promising opportunity for an upward move in the pair. 📈💪
However, let's not overlook the fundamental landscape. The Australian dollar is currently facing some headwinds due to disappointing Chinese CPI and PPI data, hinting at a lack of demand within the Chinese economy. As a major exporter to China, the Aussie dollar's fortunes are closely tied to the Chinese market. The decline in Chinese growth raises concerns about reduced commodity demand, which could expose the AUD to potential downside risks. ⚠️📉
On the flip side, the US dollar has rebounded after the recent non-farm payrolls (NFP) report, which, despite falling short of expectations, still suggests a robust labor market and maintains the possibility of a 25 basis point rate hike. This week, all eyes are on the upcoming US consumer price index (CPI) release, anticipated to show further declines in both headline and core metrics, potentially putting pressure on the USD. 🇺🇸📊
Taking these technical and fundamental factors into account, there's a compelling case for AUDUSD to potentially rally towards the daily support level, which aligns beautifully with the Fibonacci level of 61.8% around the 0.68891 area. 🌟📈
Trade wisely and keep a close watch on the evolving market dynamics! Good luck! 🍀💪
#AUDUSD #TechnicalBreakout #FundamentalAnalysis #TradingOpportunity
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