Further downside on Aussie or just a correction? Aussie (AUDUSD)

Need to pay attention to risk sentiment in the market, Gold and Aussie news being released this week. Pay attention to data that ties in with comments in last week’s rate announcement. With Australia not increasing rates now or in the near future could we see continued Aussie weakness? Also pay attention to how the market trades USD coming up to next week’s FOMC rate decision. Should AUSUSD fall then look at H1 for potential entries. Should we see a reversal then pay attention to the entry point for bulls. If price moves up then the bull target for the week is WM4. The bear target for the month is MS1.

Note:
a. Please read Kate’s post on Forex Major Currencies Outlook everyday so you are up to date with the latest news. You can follow Kate here
b. Please be aware of risk events for the day by using the Forex.Today calendar
c. Watch Wayne’s webinar daily at 13:30 SAST or catch the recording on the Forex.Today Youtube Channel

AUDUSD Daily

AUDUSD H4

AUDUSD H1