TradeCityPro | AUDUSD Analysis Preparing for Movement

👋 Welcome to the TradeCityPro channel!
Let’s examine the key triggers for AUDUSD, which appears poised for an interesting move.

🌍 Fundamental Overview:

Supported by stable commodity prices, especially iron ore, a key driver of Australia's economy.
Recent Reserve Bank of Australia (RBA) comments suggest a balanced stance with no immediate rate hikes.

Bolstered by strong economic data and expectations of prolonged higher interest rates by the Federal Reserve.

Mixed global risk sentiment keeps the USD favored as a safe-haven currency.

⏱ 4-Hour Timeframe

AUDUSD has been in a long-term downtrend, losing multiple supports and forming successive lower highs and lows. However, the price has recently stabilized, ranging between 0.64501 and 0.65412.

📉 Short Position Trigger:
After breaking the 0.64501 support, initiate a short trade targeting 0.62910.

📈 Long Position Trigger:
In case of a false breakdown of the support or prolonged consolidation within the range, open a riskier long trade above 0.65412 , Safer long entries can be considered once higher highs and lows are confirmed.

📝 Final Thoughts

This analysis reflects our opinions and is not financial advice.

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