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  • AUD/USD weekly outlook: AUD falls below 200-day SMA on rising US yields, election jitters

    From forex.com

    We can breeze past Monday and Tuesday with little to nothing of great interest in the calendar. Although traders will need to keep an eye on election headlines as it is beginning to make an impact on sentiment, and that means AUD/USD can get caught in the crosswinds. But from Wednesday onwards the economic calendar really heats up. chart Trimmed mean is the inflation figure to watch, if you had to watch just one. Although I doubt it will do much if a favour for the RBA, where rate cuts are concerned. While its 0.8% q/q print was its second lowest in three years, it was only marginally beneath its 0.88% ... (full story)

There's a political element to the RBA's next decision too. Aussie voters are a tad cranky with the Albanese Labor govt. Labor just lost an election in QLD to the LNP this weekend. That's something of a warning shot about Labor's excessive immigration policies and the impact on housing and cost of living here.

The numbers may well come in better than expected, (number fiddling being an easy task), and Federal Labor needs to give Aussie voters an early Xmas present. Will the RBA play ball? We shall see.

And I might add, there's some very interesting TA re fibs and support/resistance at these levels.
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  • Posted: Oct 27, 2024 5:27pm
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     FOREX.com
    Category: Technical Analysis
    Comments: 1  /  Views: 5,710

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