Instrument: AUDUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 0.74490 with take profit at 0.74608
Bearish Preference:
Sell position is envisaged if price trades below 0.74143 with take profit at 0.73961
Fundamentals:
No major fundamentals
Comment:
The Australian Dollar will be in focus to kick off the Asia-Pacific trading week as Chinese CPI data approaches. AUD/USD hit a fresh 2022 high last week but subsequently surrendered those gains and turned lower as market sentiment deteriorated. Crude oil prices may face additional pressure as the lockdown in Shanghai moves into its third week.
Analysis: SCRUM Team