AUDUSD Potential Forecast | 9th March 2023

2023年3月9日

Fundamental Backdrop
1. Fed Powell mentions that upcoming FOMC meeting stance is up to NFP data release.
2. Market sentiments surrounding the USD has been flipped bullish.
3. Fed Powell mentions that Fed would not hesitate to hike the i/r at a faster pace.

Technical Confluences
1. Strong bearish momentum and pressure happening onto AUDUSD.
2. Price has broken certain key resistance levels and the latest one being 0.6627.
3. Given the strong bearish momentum, we can see price come further down in light of the NFP data release tomorrow.

Idea
I will be looking for price to continue its bearish momentum in the market.






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