AUD/USD Strategy - RBA Hints at Rate Cuts, USD Remains Strong
Fundamental Analysis: Before Christmas, the RBA's meeting minutes indicated that price pressures are declining as expected, making it reasonable to begin easing policy. Meanwhile, the US Dollar Index experienced a slight decline after Christmas but remained in a bullish pattern, largely supported by the Fed's recent revision of next year's rate cut path. Under the assumption that the Fed will reduce rate cuts to two next year, if other major central banks maintain or turn toward more aggressive rate-cutting policies, the US Dollar is expected to remain strong. Technical Analysis: Recommendation:
The AUD/USD 5-minute chart shows the price is in a downward range and may correct toward a supply-demand zone to regain momentum. Short positions can be entered at the price supply zone, with stop-loss set above the top of the range and the target set at the bottom of the range or the current low.
Short AUD/USD at 0.62500 or better, with a stop-loss above 0.62537 and a target of 0.62463.
Support Level: 0.62256 Resistance Level: 0.62537
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