AUDUSD: KEY PSYCHOLOGICAL LEVELS FOR LOWER TIMEFRAMES
Against a more hawkish rate hike by RBA, upbeat domestic macro data extended some support to the aussie. It is worth recalling that the RBA on Tuesday surprised markets and raised the official cash rate by 25bps from a record low of 0.10% to 0.35%
As was widely expected the US central bank announced the largest interest rate hike since 2000 and the start of quantitative tightening (QT). The USD experienced a typical buy the rumour , sell the news trade after Fed Chair Jerome Powell played down expectations for an aggressive tightening path.
On a Bullish technical pespective , the overal move paused near 0.7265 area. Some follow through buying could allow bulls reclaim the 0.7300 area , abover which could climb to 0.73500
On a Bearish Technical pespective , any meaningfull pullback now seems to find decent support near 0.7200 followed by 0.7180 area which when broken will decisively shift the market into strong bearish territory , 0.7100 follows next and 0.7030 area which i indicated in previous analysis report was a multi- month low.
This is an article, not financial advice , always do your own research.
If you have any questions, you can write it in the comments below and i will answer them
And please don't forget to support this idea with your like and comment
As was widely expected the US central bank announced the largest interest rate hike since 2000 and the start of quantitative tightening (QT). The USD experienced a typical buy the rumour , sell the news trade after Fed Chair Jerome Powell played down expectations for an aggressive tightening path.
On a Bullish technical pespective , the overal move paused near 0.7265 area. Some follow through buying could allow bulls reclaim the 0.7300 area , abover which could climb to 0.73500
On a Bearish Technical pespective , any meaningfull pullback now seems to find decent support near 0.7200 followed by 0.7180 area which when broken will decisively shift the market into strong bearish territory , 0.7100 follows next and 0.7030 area which i indicated in previous analysis report was a multi- month low.
This is an article, not financial advice , always do your own research.
If you have any questions, you can write it in the comments below and i will answer them
And please don't forget to support this idea with your like and comment
