AUD/USD continues uptrend - waiting for FOMC🔔🔔🔔 AUD/USD news:
👉The US dollar is expected to trade cautiously ahead of the Federal Reserve’s (Fed) second interest rate decision of the year on Wednesday. The Fed is widely anticipated to keep interest rates unchanged in the 4.25%-4.50% range for the second consecutive time.
👉Meanwhile, the Australian Dollar (AUD) has shown strong performance in the last two trading sessions, driven by renewed optimism about China's economic prospects. Over the weekend, China introduced a comprehensive “special action plan” aimed at boosting domestic consumption by increasing household income. This development supports the Australian Dollar, as Australia's economy is heavily dependent on exports to China.
👉Domestically, the Reserve Bank of Australia (RBA) is likely to maintain a cautious stance on interest rate policy, given concerns that US President Donald Trump's tariff policies could heighten inflationary pressures in the Australian economy.
Personal opinion:
👉AUD/USD will still maintain its upward momentum due to the different policies of RBA and FED
👉However, this pair may correct a decline after RSI (4H) enters the overbought zone, which may be a good condition for you to buy at a good price
Analysis:
👉Based on important resistance - support levels and Fibonacci combined with trend lines and EMA to come up with a suitable strategy
Plan:
🔆 Price Zone Setup:
👉Buy AUD/USD 0.6340 – 0.6325
❌SL: 0.6295 | ✅TP: 0.6380 – 0.6430 – 0.6480
FM wishes you a successful trading day 💰💰💰
