Instrument: AUDUSD
Intraday: BULLISH
Technical Analysis
Preference:
Buy position is envisaged if price trades above 0.71133 with take profit at key level 0.71405.
Alternative scenario:
Sell if price trades below 0.70965 with take profit at 0.70609.
Fundamentals:
CB Consumer Confidence (USD) 3.00 pm
Comment: On the H1 we see the instrument broke a resistance zone and it is heading to the next resistance, looking at the trend with the 50 EMA we see that the trend is turning into a bullish trend and a buy is in place for now. A strong consumer confidence could deter the upward movement for today, but if expectation is not meet a strong buy should be in place.
Analysis: SCRUM Team