📊TECHNICAL ANALYSIS ON 4-HOURS TIMEFRAME
The AUDUSD pair rebounds downwards strongly after reaching 0.6400 level this morning, which supports the continuation of the expected bearish trend for the upcoming period, which depends on the price stability below the mentioned level, noting that our targets begin at 0.6285 and extend to 0.6200 after breaking the previous level. The expected trading range for today is between 0.6300 support and 0.6370 resistance
📊QUICK FUNDAMENTAL LOOK
The Australian dollar appreciated toward $0.64, hitting its strongest levels in almost two weeks on the back of higher-than-expected inflation data. The country’s third quarter inflation rate came in at 5.4%, lower than the 6% seen in the second quarter but posting higher than the 5.3% expected by analysts.
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