AUDUSD Technical Outlook and Fundamental.

AUD currency is facing stubborn inflation and high affordability prices. High interest rates are influencing the construction sectors of AUD negatively. With the housing market being the last thing to prop up the AUD. It is weakening slowly. Rate cuts are needed to relieve the AUD economy.

Australia is set target to build 1.2 million homes in 5 years and is expecting to fall short of 500,000 missing it's target by 41%

The DXY is showing good strength. With Canada facing high un employment and weak economy. Wars in the middle east and east Europe. Furthermore, French government budget problems. DXY is looking like a safe currency with President elect Donald Trump coming back into office. Not to mention the labor market looking resilient with exception of unemployment rising .1%. If inflation numbers are at same percentage or higher the FED will have to keep rates unchanged. This leads to more hawkish stance.

If AUD/USD closes under 0.63580. The next level of support will be at 0.62715.

captura

Nota
TRADE IDEA invalid. It failed breakthrough and failed to GAP down again. China also announced monetary policy to stimulate economy which is the Aussie top trade partner. Longs are here finally after waiting patiently.
Trend Analysis

Aviso legal