[AUD/USD Strategy] Powell downplays recession risks, weighing on non-USD Currencies

Fundamental Analysis:
Federal Reserve Chair Jerome Powell recently stated that recent data suggests the risk of a U.S. economic recession is low. This statement helped reassure market confidence, leading to a rebound in the US Dollar Index. Additionally, the Fed may need more time to assess the impact of Trump's tariff policies on the economy. During this period, the central bank is likely to maintain its current high interest rates, which could continue to pressure non-USD currencies.

Technical Analysis:
On the 1-hour chart, lower highs and lower lows indicate a bearish trend. The 61.8% Fibonacci retracement level of the most recent downtrend is expected to act as resistance, making it a good point to enter short positions. If the price breaks above the previous high, the trend may shift, and short positions should be stopped out. Take profit should be set at the previous low, where the downtrend previously halted.

Trade Recommendation:
🔹 Sell above 0.63279
🔹 Stop loss: 0.63633
🔹 Take profit: 0.62707 (Adjust for spread accordingly)

📉 Support: 0.62707
📈 Resistance: 0.63633

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