AUDUSD - DEMAND CHART- Daily Timeframe - 27.08.2024
📊Price has been forming Higher Highs and Higher Lows. We've seen a Higher bid in price which pushed price higher 4,371 points pullback. It is worth to note that this month session created the Yearly low of 0.63483. A Pullback into the Yearly High of 0.68391 is viable. This Analysis will help us decipher the Possible Demand zones and levels.
📑Price is 460 Points away from the HTF Demand zone (Proximal line- 0.68302 & Distal line - 0.68506) is the Ultimate success of Demand wave.
⏰Once the Buyers Take out Profits off the Demand orders, we foresee a Price Drop. If A Higher Low will be created, the HTF Demand zone (Proximal line- 0.66287 & Distal line- 0.66131) will be the Demand level.
💡If Sellers push aggressively for a Lower Low, the Preceding HTF Demand zone (Proximal line- 0.64327 & Distal line- 0.64187) will be the Demand level.
AUD/USD Bullish Themes
AUD Bullish
Stronger growth in China as its economy continues to fully reopen to support Aussie
Australia’s economy to avoid recession, RBA to hold rates steady for an extended period
Hawkish RBA is a new supportive factor for AUD bulls
Australian economy appears relatively resilient, RBA to keep hiking
Resilient Australian growth and favorable RBA monetary policy dynamics versus the Fed
RBA to be in a very aggressive mode in the second half of 2022
Aussie to profit from surging raw material prices
Commodities do well in inflationary times, a boon to the countries that produce it
RBA is still expected to hike this year
China easing supports Chinese companies, a result of that will be AUD support
Good china news to lift the aussie
The RBA will be hiking rates even before it thinks it will
RBA to hold its nerve through COVID-19 Delta surge
USD Bearish
Anticipated slowdown of the US economy
The hurdle for raising rates this month is higher, implying fresh US Dollar falls
Dollar weakness will pick up pace during 2024 as market attention turns toward Fed rate cuts
Fed feels more comfortable with receding inflation
US Dollar's position as the primary global reserve currency is being challenged
America on verge of losing petrodollar privilege
Other regions may need to continue their crusade for inflation, reducing spreads of debt securities yields
Combination of lower Fed rate expectations and improved risk sentiment is quintessentially negative
No more Fed hikes, potentially lethal to the US Dollar
US economy to slip into recession, Fed eventually cut rates quicker than peer institutions
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