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Australia's CPI has been announced. It showed a consistent slowing of inflation, lower than expected. However, it still seems challenging for the Reserve Bank of Australia to view rate cuts positively. Meanwhile, in the United States, the Federal Reserve held its regular FOMC meeting, and the results will be announced tomorrow morning. Accordingly, the currency market is expected to show a clear direction.
- January 30-31: Federal Reserve FOMC regular meeting, results announced on February 1 at 4 a.m. Korean time
- February 1: Eurozone Consumer Price Index announced
- February 6: Reserve Bank of Australia interest rate decision
- Australia ASX200 reached the 7680 level
Currently, the Australian Dollar is drawing a downward trend, experiencing pressure as it approaches the resistance of the previous high. The expected low point is around the current previous low of the 0.62000 line, and a short-term rebound is expected in this range. However, if it breaks through this range, a downward pressure towards the lower trend line is anticipated according to the trend.
The current movement of the Australian Dollar can be expected in two ways:
- Breaking the support of the trend and coming down, leading to a medium-term decline to the 0.62000 line.
- Receiving support from the trend and confirming the high point again, followed by a medium to long-term decline.
In terms of response, it is not significantly different from last week. However, since the Federal Reserve's FOMC and the Reserve Bank of Australia's interest rate decision can act as variables, please make sure to consider these factors. If the chart changes significantly due to these variables, we will modify the strategy accordingly.
Please share your personal opinions in the comments. We ask for your boost and subscription.
Australia's CPI has been announced. It showed a consistent slowing of inflation, lower than expected. However, it still seems challenging for the Reserve Bank of Australia to view rate cuts positively. Meanwhile, in the United States, the Federal Reserve held its regular FOMC meeting, and the results will be announced tomorrow morning. Accordingly, the currency market is expected to show a clear direction.
- January 30-31: Federal Reserve FOMC regular meeting, results announced on February 1 at 4 a.m. Korean time
- February 1: Eurozone Consumer Price Index announced
- February 6: Reserve Bank of Australia interest rate decision
- Australia ASX200 reached the 7680 level
Currently, the Australian Dollar is drawing a downward trend, experiencing pressure as it approaches the resistance of the previous high. The expected low point is around the current previous low of the 0.62000 line, and a short-term rebound is expected in this range. However, if it breaks through this range, a downward pressure towards the lower trend line is anticipated according to the trend.
The current movement of the Australian Dollar can be expected in two ways:
- Breaking the support of the trend and coming down, leading to a medium-term decline to the 0.62000 line.
- Receiving support from the trend and confirming the high point again, followed by a medium to long-term decline.
In terms of response, it is not significantly different from last week. However, since the Federal Reserve's FOMC and the Reserve Bank of Australia's interest rate decision can act as variables, please make sure to consider these factors. If the chart changes significantly due to these variables, we will modify the strategy accordingly.