AUDUSD👉Awaiting US CPI data

AUDUSD👉Awaiting US CPI data

Currently, AUDUSD is facing another strong resistance zone located near 0.6640.
The price was rejected several times in the past by adding more value to the strength of this structure.

We have to look for possible reversal signs if we want to trade on the "Short" side

We have to wait for the price to bounce above 0.6640 for a bullish wave.
If this breakout happens we may see AUDUSD rising further up to 0.6840.

On the other hand, the market focus for this week will be on the US CPI data on Wednesday, MAY 15.
This will be the catalyst for AUDUSD and future price direction for May 2024

You may find more details in the chart!
Thank you and Good Luck!

❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️