AUD/USD is looking neutral to slightly bearish this week, with the pair trading around 0.6460-0.6500. Here are some potential trade ideas:
Bearish Scenario:
– Sell AUD/USD if it breaks below 0.6457, targeting 0.6413 and 0.6403.
– Stop-loss above 0.6501.
Bullish Scenario:
– Buy AUD/USD if it breaks above 0.6501, targeting 0.6579 and 0.6616.
– Stop-loss below 0.6457.
Key levels to watch:
– Support: 0.6457, 0.6413, 0.6403
– Resistance: 0.6501, 0.6579, 0.6616
The market is influenced by factors like:
– RBA Policy Decisions: Interest rates and economic data
– US Economic Data: GDP, inflation, and employment data
– Global Economic Indicators: Trade tensions and geopolitical events
Keep an eye on these events and adjust your trade plan accordingly
