Price is currently hovering above my daily 38.2% fib level. I will be hoping for a close above this level for a good opportunity to long this pair.
If not then price could drop to my daily pivot ultimately giving me a better price to long this pair.
AUD cash rate and Rate statement that was released yesterday caused AUD to rally. Giving this pair a bullish bias
On the other hand NFP for the US last Friday was particularly disappointing as it came out 38k vs 159k which is very dovish for this pair and signals a US weakness that could still be in play throughout this week.
If not then price could drop to my daily pivot ultimately giving me a better price to long this pair.
AUD cash rate and Rate statement that was released yesterday caused AUD to rally. Giving this pair a bullish bias
On the other hand NFP for the US last Friday was particularly disappointing as it came out 38k vs 159k which is very dovish for this pair and signals a US weakness that could still be in play throughout this week.
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CLosed at around 0.74953