AUDUSD probabilities point to a move lower...
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The data on our end points to the AUDUSD moving much lower - and with the RBA Rate Statement due on June 7th, we expect the currency to fall or remain capped under .7400 in anticipation. Rate hikes look likely in the United States, along with price action confirming a higher dollar. If we pair this with the Australian probabilities of rates remaining unchanged, or potentially even cut, the fundamental environment also favors bearish Aussie price action down to .6800...
The data on our end points to the AUDUSD moving much lower - and with the RBA Rate Statement due on June 7th, we expect the currency to fall or remain capped under .7400 in anticipation. Rate hikes look likely in the United States, along with price action confirming a higher dollar. If we pair this with the Australian probabilities of rates remaining unchanged, or potentially even cut, the fundamental environment also favors bearish Aussie price action down to .6800...