Aussie tackles important level next week, ahead of RBA events and chinese data.
If we look at the pair technical, we recognize the big resistance zone the Aussie is about to tackle.
The first scenario would be the Aussie breaking through that resistance and the trend canal with the help of positive fundamental data, the first target would be the 0.9377 handle. This would be bullish for the pair and a signal that it continues its upward trend.
The second scenario, with a dovish RBA, because of low inflation and weak economic data: Price would test resistance, the trend canal and the pair continues its shortime downward trend. The first target would be the 0.921 support zone.
This is my first analysis and excuse my english.
Mats Glettenberg
If we look at the pair technical, we recognize the big resistance zone the Aussie is about to tackle.
The first scenario would be the Aussie breaking through that resistance and the trend canal with the help of positive fundamental data, the first target would be the 0.9377 handle. This would be bullish for the pair and a signal that it continues its upward trend.
The second scenario, with a dovish RBA, because of low inflation and weak economic data: Price would test resistance, the trend canal and the pair continues its shortime downward trend. The first target would be the 0.921 support zone.
This is my first analysis and excuse my english.
Mats Glettenberg