AUD - Bearish :
1) Coronavirus - risk off sentiment
2) China impact to Aus revenue
3) RBA further easing 66% cut by May, 82% cut by June, and cut fully price by Oct.
*Ongoing expectation further monetary policy easing and economic risk firmly pointing to downside.
USD - temporary safe heaven currency due to Coronavirus.
Coming week with stronger data.
Monthly >> Approach 12year ago LOW!!!
D1 >> Really low without any Support or Demand volume
H4 >> Looking for Demand zone created
M15 >> Demand zone not strong enough to hold
Conclusion >> Keep eye for H4 opposing those Supply zone and create new Demand zone for Long term bid/long the pair.
However, Risk-Tone sentiment is once of the short term impact given to AUDUSD.
1) Coronavirus - risk off sentiment
2) China impact to Aus revenue
3) RBA further easing 66% cut by May, 82% cut by June, and cut fully price by Oct.
*Ongoing expectation further monetary policy easing and economic risk firmly pointing to downside.
USD - temporary safe heaven currency due to Coronavirus.
Coming week with stronger data.
Monthly >> Approach 12year ago LOW!!!
D1 >> Really low without any Support or Demand volume
H4 >> Looking for Demand zone created
M15 >> Demand zone not strong enough to hold
Conclusion >> Keep eye for H4 opposing those Supply zone and create new Demand zone for Long term bid/long the pair.
However, Risk-Tone sentiment is once of the short term impact given to AUDUSD.