🔔🔔🔔 AUD/USD news:
👉The AUD/USD pair is under significant selling pressure as weak Australian employment data fuels expectations of a dovish stance from the Reserve Bank of Australia (RBA).
👉Australia’s labor force contracts in February, while the unemployment rate remains steady at 4.1%. Meanwhile, both the Federal Reserve and the People's Bank of China (PBoC) kept interest rates unchanged on Wednesday and Thursday. The PBoC maintains its accommodative stance as Beijing aims to boost domestic consumption and revive the property sector. The Australian dollar has benefited from China's fiscal stimulus efforts, given Australia's heavy reliance on exports to China.
👉The US Dollar Index (DXY) edged higher above 104.00 as market volatility eased following the Federal Reserve’s monetary policy meeting on Wednesday. The Fed kept interest rates unchanged in the 4.25%-4.50% range for the second straight time, as expected, and reaffirmed its forecast for two rate cuts this year.
👉Additionally, initial jobless claims for the week ending March 14 came in at 223,000, roughly in line with estimates and previous reports.
Personal analysis:
👉AUD/USD will maintain its downtrend in the coming time due to weak AUD data, consider technical zones for good profits
👉Technically, RSI (1H) is having a recovery phase after entering the oversold zone, watch for strong resistance zones to Sell.
👉Analysis based on important resistance - support and Fibonacci levels combined with SMA to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Sell AUD/USD 0.6320- 0.6330
❌SL: 0.6355 | ✅TP: 0.6280 – 0.6250
FM wishes you a successful trading day 💰💰💰
👉The AUD/USD pair is under significant selling pressure as weak Australian employment data fuels expectations of a dovish stance from the Reserve Bank of Australia (RBA).
👉Australia’s labor force contracts in February, while the unemployment rate remains steady at 4.1%. Meanwhile, both the Federal Reserve and the People's Bank of China (PBoC) kept interest rates unchanged on Wednesday and Thursday. The PBoC maintains its accommodative stance as Beijing aims to boost domestic consumption and revive the property sector. The Australian dollar has benefited from China's fiscal stimulus efforts, given Australia's heavy reliance on exports to China.
👉The US Dollar Index (DXY) edged higher above 104.00 as market volatility eased following the Federal Reserve’s monetary policy meeting on Wednesday. The Fed kept interest rates unchanged in the 4.25%-4.50% range for the second straight time, as expected, and reaffirmed its forecast for two rate cuts this year.
👉Additionally, initial jobless claims for the week ending March 14 came in at 223,000, roughly in line with estimates and previous reports.
Personal analysis:
👉AUD/USD will maintain its downtrend in the coming time due to weak AUD data, consider technical zones for good profits
👉Technically, RSI (1H) is having a recovery phase after entering the oversold zone, watch for strong resistance zones to Sell.
👉Analysis based on important resistance - support and Fibonacci levels combined with SMA to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Sell AUD/USD 0.6320- 0.6330
❌SL: 0.6355 | ✅TP: 0.6280 – 0.6250
FM wishes you a successful trading day 💰💰💰
Trade active
FM's plan is on track, unfortunately it can't reach the potential selling areaWhat a pity
Trade closed: target reached
Initial target achieved, all orders closed
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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
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.