AUD/USD at a Crossroads: The Battle of Breakouts and Supports
Trade frictions remain a headwind in the market. US trade measures have triggered concerns, and the Australian economy, which is dependent on exports to China, may be impacted. Meanwhile, inflation triggered by tariffs conflicts with concerns about a slowdown in the US economy. The Federal Reserve has maintained the interest rate unchanged and adjusted its economic forecasts.
The Reserve Bank of Australia (RBA) cut interest rates in February, and future actions will depend on inflation data. Employment positions decreased in February while the unemployment rate remained stable. The upcoming release of the monthly CPI indicator for February is of great concern. The net short - positions of the Australian dollar have increased, and market sentiment is bearish.
Technically, if the AUD/USD breaks through key levels, there is upward potential. If the bears dominate, there are multiple support levels. Momentum indicators show mixed performance.
AUDUSD
sell@0.63500-0.63000
tp:0.62500-0.62000
I will share trading signals every day. All the signals have been accurate for a whole month in a row. If you also need them, please click on the link below the article to obtain them.
The Reserve Bank of Australia (RBA) cut interest rates in February, and future actions will depend on inflation data. Employment positions decreased in February while the unemployment rate remained stable. The upcoming release of the monthly CPI indicator for February is of great concern. The net short - positions of the Australian dollar have increased, and market sentiment is bearish.
Technically, if the AUD/USD breaks through key levels, there is upward potential. If the bears dominate, there are multiple support levels. Momentum indicators show mixed performance.
AUDUSD
sell@0.63500-0.63000
tp:0.62500-0.62000
I will share trading signals every day. All the signals have been accurate for a whole month in a row. If you also need them, please click on the link below the article to obtain them.
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This market is so cruel, I hope you can break through the siege.
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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.