Instrument: AUDUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 0.72104 with take profit at 0.72213
Bearish Preference:
Sell position is envisaged if price trades below 0.71940 with take profit at 0.71837
Fundamentals:
3:00pm USD Fed Chair Powell Testifies
Comment: The dollar edged lower in early European trade Thursday, but remained near its one-year high on the back of ongoing safe-haven demand and expectations for tighter U.S. monetary policy in the near future. Pushing yields higher are concerns that the Federal Reserve could start tapering its bond-buying program before the end of the year in a period of slowing global economic growth and persistently high inflation.
Analysis: SCRUM Team