"When I spoke at the Anika Foundation event last year, CPI inflation in Australia had been below 2 percent for a number of years and, in underlying terms, was just 1…
AUD/USD is hinting a dragon
2019-11-11 • Updated
TP1 0.7985 TP2 0.8050 TP3 0.8100
On the daily chart of AUD/USD, a break of the line 2-4 and exit from the downtrend channel triggered “Wolfe waves” pattern. As a result, the odds of going to 1-4 (situated near 0.8050-0.8100) with the following resumption of the uptrend increased.
On H1, AUD/USD reached 88.6% target of the “Bat”. As a result, the risks that it will transform to “Crab” increased. The pair continues forming a “Dragon” pattern.
The decision of the Australian central bank pressed the aussie down. How to trade it now?
AUD/USD began the week slightly higher reaching as high as 0.7725 before declining earlier today to 0.7690’s.
A United Nations agency is warning that the central bank’s actions create a high risk of pushing the global economy into recession.
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD