AUDUSD Big Week Ahead
Fundamentally, Aussie is a buy since the Aussie Central Bank remains steadfast in keeping rates higher for longer. But we do see a clear downtrend formed on the 4-hour chart with lower highs and lower lows. With a plethora of central bank releases next week, as well as Aussie employment change release on Wednesday, this pair can present some volatility and good trading opportunities on shorter time frames/time horizons. A weak employment report (I.e. a “big miss”) could send the pair down below support at .618 fib level and possibly erase the gains it has made over the last month.
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