AUDUSD MAY 2024 WEEK 2 OUTLOOK -
Daily - bullish. I mentioned when AUD CPI came out that the structure and numbers all were almost identical to what happened in October 2023 and after that in November AUDUSD bias flipped to bullish. so far, that hypothesis has held. Although I won't mind going long AU today, I would like the price to pullback a little.
Origin - bullish - origin in sync with daily. price can move up from here too but ideally I will have more confidence in longs if price pulled back and got absorbed from the zone - **0.65941 - 0.65536** we have AUD cash rate news on tuesday, so this pullback might happen tomorrow.
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.