AUDUSD Insight

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Key Points
- The People's Bank of China lowered both the 1-year and 5-year loan prime rates by 25 basis points each, interpreted as a move toward an accommodative monetary policy to stimulate the economy.
- ECB policymaker and Portuguese Governor Mario Centeno stated, "The risk of inflation falling below target is greater than the opposite, and we could consider a 50 basis point cut depending on the data."
- The IMF mentioned that while the U.S. economy has shown a steady recovery since the pandemic, the eurozone continues to struggle due to a downturn in manufacturing, particularly in Germany.
- With Trump’s projected victory, the market expects that non-U.S. stocks will underperform in the future.

Key Economic Indicator Schedule
- October 24: U.S. Initial Jobless Claims, Manufacturing PMI, Services PMI.

AUD/USD Trend Analysis
It appears that the pair is facing resistance at the top and is in a downward trend, with further declines still possible. Support is expected around the 0.66000 level, and a rebound here could see the pair rise back to the 0.69000 level. However, if the 0.66000 support is broken, further declines toward the 0.64500 level are anticipated.

If the market moves in an unexpected direction, I will quickly adjust the strategy.
Support and ResistanceTrend AnalysisTrend Lines

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