Target 0.6215 and 0.6170
The inflation figures from Australia are expected to be published next week. In the Q1 data, we can see a data set below expectations due to the negative economic activities caused by the coronavirus.
The upward trend that started in the dollar index within the week begins to gain momentum. In this context, US dollar positive activity may increase its effect again in global markets.
In this context, we think that short positions will be more appropriate in AUDUSD. In the orders, 0.6261 can be followed as the first take profit level, and 0.6215 as the second one. 0.6170 can be consideredd as the third level for take profit orders. We also believe that 0.6511 level should be followed as a stop loss level in order to be protected against possible upward movements.
The upward trend that started in the dollar index within the week begins to gain momentum. In this context, US dollar positive activity may increase its effect again in global markets.
In this context, we think that short positions will be more appropriate in AUDUSD. In the orders, 0.6261 can be followed as the first take profit level, and 0.6215 as the second one. 0.6170 can be consideredd as the third level for take profit orders. We also believe that 0.6511 level should be followed as a stop loss level in order to be protected against possible upward movements.
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