Chapter 18 AUDUSD is going down to the demand zone again
Fundamental analysis
After Australian news today released The interest rate decision came as expected at 2.85%
And global manufacturing PMI at 52.7 Worse than expected also we have the united States JOLTs Job Opening Came better than expected at 10.27 And global manufacturing PMI for the United States came better than expected at 50.4 Also we have interest rate decision in the US coming on Thursday With the expectation to increase to 4% All this lead to the pair to push down
Technical analysis
The moment I'm writing this article the price is at 0.63856 We can see in the 4H chart There is a bearish engulfing button Forming And a 200 moving average and 20 moving average both pointing down I expect the market will push down some more and then pull back to the same price we write this article at 0.63856 And when I touch the 20 moving average again the market will push down until the next demand zone at 0.62000
