Chapter 39 AUDUSD Will surprise us by changing the downtrend
15/12/2022
Summary
US interest rate decision drives the market
Fundamental Analysis
The U.S. central bank raised rates by 50 basis points on Wednesday, slowing down from four back-to-back 75 hikes, although Fed Chair Jerome Powell said recent signs of slowing inflation had not brought any confidence yet that the fight had been won.
The Fed's policy-setting committee projected it would continue raising rates to above 5% in 2023, a level not seen since a steep economic downturn in 2007.
On the other hand, we don't have that much high-impact news on the AUD.
U.S. FOMC Interest Rate
Previous 4%
Actual 4.5%
Technical Analysis
as we see in the 4 H diagram chart market price is now at 0.67725 we expect the market to pull up to test the previous supply zone at 0.68480 to create a new lower high and then the market will push down to the previous demand zone at 0.65900
Trading Recommendation
Trading Direction: Short
Entry Price: 0.68124
Target Price:0.66429
Stop Loss:0.68949
