AUDUSD Daily Outlook – On Tuesday the Fed Chairman Jerome Powell told senators that the Fed doesn’t want to ‘run through the bond market like an elephant’… whatever that means… We found out that the U.S. May retail sales surged 17.7% in the biggest monthly jump ever, In the UK Employment fell by 600,000 since lockdown as UK faces ‘biggest jobs crisis in at least 25 years, and even the Swiss economy is expected to shrink by the worst rate in decades.
Welcome to the Tickmill update, I’m Kiana Danial the founder of the Invest Diva movement. Make sure to subscribe to the Tickmill YouTube channel and support us by liking and sharing this video with your forex trading friends.
On Wednesday we’ll be eyeing the inflation rates from the UK, Eurozone, and Canada, as well as New Zealand’s GDP and Australia’s jobs report.
Today I’m looking at the AUD/USD pair which failed to break above the weekly Ichimoku cloud last week and is attempting it again this week. The future cloud has turned bullish however the 0.70 level has historically been a very strong resistance. Depending on this week’s data and if the pair is able to confirm the break above this level, we could expect medium-term gains towards the next key resistance levels of 0.74 and 0.79 respectively.
Do you think this is just the beginning for AUD/USD pair gains or that it’s gonna go back down again? Head over to the comments section and let me know.
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