Last Week The A$ Moved Down To Shift The Trend From Uptrend To Downtrend Signaling The Probability Of Rate Cut Toward Interest Rate Decision, This Week We Will Have Full Schedule Data Starting Monday With AUD Housing Sector And HSBC Manufacturing PMI, Tuesday The Big Event The RBA Rate Decision, Wednesday The Retail sales And CHN HSBC Service PMI, Strong Data Will Hit The Wire On Thursday In Which It May Shake The Market The Labor Day, And Last But Not Least On Friday CHN Trade Balance
We Will Considered These Data As Fundamental Driven And We Will Watch Some Technical Levels As Posted On The Chart For More Guidance, Bearish Target @0.7700 And Bullish Target @0.7950, Nonetheless The Downside Move Find Divergence Support Around 0.7800 In Which It Give A Signal Of More Upside Momentum Is Favor
We Still Have Bearish Bias On This Market As The RBA Still Consider 0.76 As Overvalued Level For A$, Our Target As Placed In Blue Callout, Any Move To The Upside Will Be Will Capped Below The Technical Level @0.79211
We Will Considered These Data As Fundamental Driven And We Will Watch Some Technical Levels As Posted On The Chart For More Guidance, Bearish Target @0.7700 And Bullish Target @0.7950, Nonetheless The Downside Move Find Divergence Support Around 0.7800 In Which It Give A Signal Of More Upside Momentum Is Favor
We Still Have Bearish Bias On This Market As The RBA Still Consider 0.76 As Overvalued Level For A$, Our Target As Placed In Blue Callout, Any Move To The Upside Will Be Will Capped Below The Technical Level @0.79211