The game of Aud/Usd
Price movementIn
In yesterday's session price is returning near a key support zone. In fact, at 0.7144 we find the dynamic support identified by the EMA2O daily, while at 0.7108 is located the 76.8% of the Fibonacci retracement: this area should not yield but, because of the macroeconomic scenario that has been configured, it should bounce the price towards a target around the resistance identified by the EMA200 daily at 0.727; if it were broken upwards, the trend will continue until the next static resistance ( 0.733 )
Fed & Powell
The Fed, which will not raise rates in the very short term, and therefore with a softening of monetary policy, the dollar should continue to lose strength until Powell's signals of change arrive.
In yesterday's session price is returning near a key support zone. In fact, at 0.7144 we find the dynamic support identified by the EMA2O daily, while at 0.7108 is located the 76.8% of the Fibonacci retracement: this area should not yield but, because of the macroeconomic scenario that has been configured, it should bounce the price towards a target around the resistance identified by the EMA200 daily at 0.727; if it were broken upwards, the trend will continue until the next static resistance ( 0.733 )
Fed & Powell
The Fed, which will not raise rates in the very short term, and therefore with a softening of monetary policy, the dollar should continue to lose strength until Powell's signals of change arrive.
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