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The yen price is rising due to intervention by the Japanese Foreign Exchange Authority, and the price of the dollar has temporarily stopped rising due to the dovish stance of the Federal Reserve. However, uncertainty about the timing of interest rate cuts continues, regardless of the content that there will be no interest rate hikes by the Fed. Furthermore, it seems necessary to continue monitoring the Fed's outlook as it may change depending on upcoming inflation and employment indicators.
- On May 3rd, the US unemployment rate and non-farm payroll will be announced.
- On May 7th, there will be Australian retail sales and a Reserve Bank of Australia monetary policy meeting.
- On May 9th, there will be a Bank of England monetary policy meeting.
AUDUSD is rising towards the low of the previous uptrend, supported by the trendline. There is a possibility of resistance in this range, but it is expected to break through this range and move along the downtrend. It is expected to rebound slightly after hitting the resistance zone, with 0.67000 being a likely high point. Subsequently, it is expected to show a downtrend again.
Based on the above, the expected movements can be summarized as follows:
First, a medium to long-term downtrend to the 0.63000 line after rising to the 0.67000 line.
Second, a short to medium-term downtrend to the 0.64000 line after resistance at the 0.65800 line, followed by a rebound to the 0.66000 line for a medium to long-term uptrend.
Currently, these two movements are expected, and strategies will be adjusted if there are variables.
Please share your personal opinions in the comments. Booster and subscription requests are appreciated.
The yen price is rising due to intervention by the Japanese Foreign Exchange Authority, and the price of the dollar has temporarily stopped rising due to the dovish stance of the Federal Reserve. However, uncertainty about the timing of interest rate cuts continues, regardless of the content that there will be no interest rate hikes by the Fed. Furthermore, it seems necessary to continue monitoring the Fed's outlook as it may change depending on upcoming inflation and employment indicators.
- On May 3rd, the US unemployment rate and non-farm payroll will be announced.
- On May 7th, there will be Australian retail sales and a Reserve Bank of Australia monetary policy meeting.
- On May 9th, there will be a Bank of England monetary policy meeting.
AUDUSD is rising towards the low of the previous uptrend, supported by the trendline. There is a possibility of resistance in this range, but it is expected to break through this range and move along the downtrend. It is expected to rebound slightly after hitting the resistance zone, with 0.67000 being a likely high point. Subsequently, it is expected to show a downtrend again.
Based on the above, the expected movements can be summarized as follows:
First, a medium to long-term downtrend to the 0.63000 line after rising to the 0.67000 line.
Second, a short to medium-term downtrend to the 0.64000 line after resistance at the 0.65800 line, followed by a rebound to the 0.66000 line for a medium to long-term uptrend.
Currently, these two movements are expected, and strategies will be adjusted if there are variables.