AUDUSD Potential Forecast | 1st March 2023
Fundamental Backdrop
1. USD more hawkish than AUD, with a potentially higher terminal rate.
2. US economy continues to be very resilient, taking the USD by strength.
Technical Confluences
1. The overall bias for AUDUSD on the H4 chart is bearish.
2. Price is on a bearish trend, forming lower lows and lower highs.
3. Price could potentially retrace to the H4 resistance level at 0.678.
4. Anticipating price to retest the weekly support level at 0.662.
5. Price has already broken multiple structures to the downside.
6. Price is resting below the ichimoku cloud, signifying bearish intent.
Idea
I will be looking for price to continue its bearish trend and for price to tap into the weekly support level at 0.662 before price could potentially head bullish.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
1. USD more hawkish than AUD, with a potentially higher terminal rate.
2. US economy continues to be very resilient, taking the USD by strength.
Technical Confluences
1. The overall bias for AUDUSD on the H4 chart is bearish.
2. Price is on a bearish trend, forming lower lows and lower highs.
3. Price could potentially retrace to the H4 resistance level at 0.678.
4. Anticipating price to retest the weekly support level at 0.662.
5. Price has already broken multiple structures to the downside.
6. Price is resting below the ichimoku cloud, signifying bearish intent.
Idea
I will be looking for price to continue its bearish trend and for price to tap into the weekly support level at 0.662 before price could potentially head bullish.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
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