🔔🔔🔔AUD/USD news:
➡️ The Trump administration announced that the US would impose a base tariff rate of 10% on all imports into the country. China was particularly affected, facing tariffs of at least 54% on many items. In response, the Chinese government threatened retaliation after Trump imposed the highest US tariffs on any nation. This, in turn, could put some downward pressure on the Australian dollar, as China is Australia's main trading partner.
➡️ However, positive economic data from China could help limit the losses of the AUD. China's Caixin Services PMI improved to 51.9 in March, up from 51.4 in February, surpassing the expected 51.6.
Personal opinion:
➡️ AUD/USD will move in a sideways trend and wait for the US NF news to create momentum for the next trend.
➡️ Moreover, the RSI is approaching the oversold zone, showing signs of a slowdown from the sellers. need to pay attention to the bullish reversal point of this zone
➡️ Analysis based on resistance - support levels and Volume profile combined with trend lines to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Buy AUD/USD 0.6265 – 0.6255
❌SL: 0.6230 | ✅TP: 0.6320 – 0.6345
FM wishes you a successful trading day 💰💰💰
➡️ The Trump administration announced that the US would impose a base tariff rate of 10% on all imports into the country. China was particularly affected, facing tariffs of at least 54% on many items. In response, the Chinese government threatened retaliation after Trump imposed the highest US tariffs on any nation. This, in turn, could put some downward pressure on the Australian dollar, as China is Australia's main trading partner.
➡️ However, positive economic data from China could help limit the losses of the AUD. China's Caixin Services PMI improved to 51.9 in March, up from 51.4 in February, surpassing the expected 51.6.
Personal opinion:
➡️ AUD/USD will move in a sideways trend and wait for the US NF news to create momentum for the next trend.
➡️ Moreover, the RSI is approaching the oversold zone, showing signs of a slowdown from the sellers. need to pay attention to the bullish reversal point of this zone
➡️ Analysis based on resistance - support levels and Volume profile combined with trend lines to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Buy AUD/USD 0.6265 – 0.6255
❌SL: 0.6230 | ✅TP: 0.6320 – 0.6345
FM wishes you a successful trading day 💰💰💰
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✅ t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
Channel: signals - knowledge and FOREX comments
Related publications
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.