Possible Directions

15 בספט׳ 2023

Audusd to range sideways before High impact economic indicator released later today.

15 בספט׳ 2023

הערה

The Australian dollar faced challenges during the recent trading session due to hotter-than-anticipated PPI numbers in the United States. The market sentiment appears to be cautious, with uncertainty surrounding the central banks' policies, given the substantial interest rate differential between Australia and the United States.

The AUD/USD chart shows clear support at 0.64 and resistance at 0.65. Given the current market volatility and the ongoing debate between rate cuts and inflation concerns, it's advisable to consider short-term scalping strategies. Additionally, while strong employment data in Australia was encouraging, the RBA is expected to maintain rates unchanged, potentially favoring the USD, making short-term scalping a prudent approach.