Idea on a chart
Great idea on a chart.Australia Dollar Forecast: AUD/USD Reverses Ahead of January High
AUD/USD may track the August range as it reverses ahead of the January high (0.6839), and the Relative Strength Index (RSI) may continue to show the bullish momentum abating as it moves away from overbought territory.
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With that said, AUD/USD may struggle to retain the advance from the August low (0.6349), but the exchange rate may consolidate ahead of the Federal Reserve interest rate decision on September 18 as Chairman Jerome Powell insists that ‘the time has come for policy to adjust.’
AUD/USD may track the August range as it reverses ahead of the January high (0.6839), and the Relative Strength Index (RSI) may continue to show the bullish momentum abating as it moves away from overbought territory.
Join David Song for the Weekly Fundamental Market Outlook webinar. David provides a market overview and takes questions in real-time. Register Here
With that said, AUD/USD may struggle to retain the advance from the August low (0.6349), but the exchange rate may consolidate ahead of the Federal Reserve interest rate decision on September 18 as Chairman Jerome Powell insists that ‘the time has come for policy to adjust.’
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