🔔🔔🔔AUD/USD news:
👉The AUD/USD pair remained range-bound around the 0.6300 level during the Asian session on Wednesday, showing little movement following the release of Australia’s monthly CPI data. The inflation rate rose 2.4% year-over-year in February, slightly lower than the previous 2.5%. Meanwhile, uncertainty surrounding the implementation of Trump's reciprocal tariffs on April 2 limited the pair’s upside. The currency pair's recovery was driven by renewed weakness in the US dollar amid eased concerns over tariffs and positive geopolitical developments.
👉Australia, which relies heavily on exports to China, could face significant economic consequences if US tariffs slow down its largest export market. Any substantial decline in Chinese demand would inevitably ripple through the Australian economy.
👉From a positioning perspective, net short positions on the Australian dollar surged to a multi-week high of approximately 70.5K contracts in the week ending March 18, according to the latest CFTC data. Bearish bets have been building since mid-December and gained momentum in response to escalating tariff threats.
Personal opinion:
👉AUD/USD will continue to decline in the coming time due to many bad news affecting it
👉Bad CPI data will have a quick impact on this currency pair
👉Analyze based on resistance - support levels and Pivot points combined with EMA to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Sell AUD/USD 0.6300 – 0.6310
❌SL: 0.6345 | ✅TP: 0.6260 – 0.6210
FM wishes you a successful trading day 💰💰💰
👉The AUD/USD pair remained range-bound around the 0.6300 level during the Asian session on Wednesday, showing little movement following the release of Australia’s monthly CPI data. The inflation rate rose 2.4% year-over-year in February, slightly lower than the previous 2.5%. Meanwhile, uncertainty surrounding the implementation of Trump's reciprocal tariffs on April 2 limited the pair’s upside. The currency pair's recovery was driven by renewed weakness in the US dollar amid eased concerns over tariffs and positive geopolitical developments.
👉Australia, which relies heavily on exports to China, could face significant economic consequences if US tariffs slow down its largest export market. Any substantial decline in Chinese demand would inevitably ripple through the Australian economy.
👉From a positioning perspective, net short positions on the Australian dollar surged to a multi-week high of approximately 70.5K contracts in the week ending March 18, according to the latest CFTC data. Bearish bets have been building since mid-December and gained momentum in response to escalating tariff threats.
Personal opinion:
👉AUD/USD will continue to decline in the coming time due to many bad news affecting it
👉Bad CPI data will have a quick impact on this currency pair
👉Analyze based on resistance - support levels and Pivot points combined with EMA to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Sell AUD/USD 0.6300 – 0.6310
❌SL: 0.6345 | ✅TP: 0.6260 – 0.6210
FM wishes you a successful trading day 💰💰💰
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✅ t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
Channel: signals - knowledge and FOREX comments
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.