AUDUSD Weekly Forecast| 10th April 2023
Fundamental Backdrop
1. The RBA chose to hit a pause on its interest rates maintaining it at 3.60%. This marked the first pause since May of 2022. This is seen as Dovish.
2. It's increasingly dovish for the AUD, especially around the household sector. There are evidence that the combination of higher rates, high inflation, and falling house prices are leading to a substantial slowing in household spending.
3. Eyes are out on the Employment Change which is expected to drop and the Unemployment Rate which is expected to increase.
Technical Confluences
1. Near-term support at 0.66400
2. Next support below at 0.66000
Idea
The sentiments for AUD this week is relatively bearish. We could see price continue heading towards the near-term support at 0.66400. A break below 0.66250 could see price head lower towards the next round number support 0.66000.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
1. The RBA chose to hit a pause on its interest rates maintaining it at 3.60%. This marked the first pause since May of 2022. This is seen as Dovish.
2. It's increasingly dovish for the AUD, especially around the household sector. There are evidence that the combination of higher rates, high inflation, and falling house prices are leading to a substantial slowing in household spending.
3. Eyes are out on the Employment Change which is expected to drop and the Unemployment Rate which is expected to increase.
Technical Confluences
1. Near-term support at 0.66400
2. Next support below at 0.66000
Idea
The sentiments for AUD this week is relatively bearish. We could see price continue heading towards the near-term support at 0.66400. A break below 0.66250 could see price head lower towards the next round number support 0.66000.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
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Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.