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The monetary policy meeting minutes of the Reserve Bank of Australia were released yesterday. There were no significant revelations, and the market seems to be paying more attention to the Federal Reserve's FOMC minutes. Additionally, we should keep an eye on the Eurozone CPI, as it may lead to fluctuations in the US dollar.
- February 22: Release of the Federal Open Market Committee meeting minutes
- February 22: Release of Eurozone January CPI, ECB Monetary Policy Meeting Report
- February 23: Release of Germany's Q4 GDP
The Australian Dollar is forming a downward trend, experiencing pressure from the highs. However, it shows the intention to break away from the trendline support while receiving support from the trendline. In the current situation, rather than breaking through the bottom trendline, we expect a process of confirming resistance at the top, and the key point will be to observe whether it will continue to rise after breaking through the previous high.
Currently, two movements are anticipated:
Firstly, following confirmation of resistance at the high, a medium to long-term decline down to the 0.62000 line.
Secondly, breaking through the resistance of the upper trendline and forming an upward trend, indicating a medium to long-term rise.
These two movements are currently the most likely scenarios, and we will adjust our strategy if there are any variables.
Please share your personal opinions in the comments. We kindly request your support with likes and subscriptions.
The monetary policy meeting minutes of the Reserve Bank of Australia were released yesterday. There were no significant revelations, and the market seems to be paying more attention to the Federal Reserve's FOMC minutes. Additionally, we should keep an eye on the Eurozone CPI, as it may lead to fluctuations in the US dollar.
- February 22: Release of the Federal Open Market Committee meeting minutes
- February 22: Release of Eurozone January CPI, ECB Monetary Policy Meeting Report
- February 23: Release of Germany's Q4 GDP
The Australian Dollar is forming a downward trend, experiencing pressure from the highs. However, it shows the intention to break away from the trendline support while receiving support from the trendline. In the current situation, rather than breaking through the bottom trendline, we expect a process of confirming resistance at the top, and the key point will be to observe whether it will continue to rise after breaking through the previous high.
Currently, two movements are anticipated:
Firstly, following confirmation of resistance at the high, a medium to long-term decline down to the 0.62000 line.
Secondly, breaking through the resistance of the upper trendline and forming an upward trend, indicating a medium to long-term rise.
These two movements are currently the most likely scenarios, and we will adjust our strategy if there are any variables.