AUD/USD - FOMC Impact and Price Action Outlook
The FOMC release on Friday resulted in a break of another structure to the downside. However, price has not yet tapped into the higher timeframe demand zone, so my bias remains bearish for now.
The latest supply zone at 0.6200 is where I anticipate a bearish retracement into the demand zone. I expect this week's price action to move deeper into that zone, preparing for potential bullish setups.
On the smaller timeframe, price may potentially take out the recent equal high liquidity at 0.6172. It's important to note that price doesn't necessarily need to pull back as deep as the 50% Fibonacci level—it could sell directly from the 0% level.
The latest supply zone at 0.6200 is where I anticipate a bearish retracement into the demand zone. I expect this week's price action to move deeper into that zone, preparing for potential bullish setups.
On the smaller timeframe, price may potentially take out the recent equal high liquidity at 0.6172. It's important to note that price doesn't necessarily need to pull back as deep as the 50% Fibonacci level—it could sell directly from the 0% level.
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If price successfully breaks the structure to the upside, the next key level to watch for potential bearish momentum will be at 0.62957
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