AUDUSD Pullback Toward 0.65000 as Dollar Weakens Ahead of US PCE
Hey Traders, in today's trading session we are monitoring AUDUSD for a buying opportunity around the 0.65000 zone. AUDUSD is trading in an uptrend, with price currently correcting toward this key support/resistance level.
Structure: The broader bias remains bullish, but price is retracing after recent highs.
Key level in focus: 0.65000 — an important area where buyers may look to step in.
Fundamentals: The US Dollar Index (DXY) is breaking below 98.100 support, pointing to further downside. A bearish DXY combined with bullish Gold strengthens the case for AUDUSD upside.
Event risk: Today’s US PCE release is key.
A soft print would reinforce the Fed’s dovish stance, supporting dollar weakness.
A hot print could complicate the bearish dollar narrative.
Next move: Monitoring how AUDUSD reacts around 0.65000 to assess whether buyers regain control or if deeper correction unfolds.
Trade safe,
Joe.
Structure: The broader bias remains bullish, but price is retracing after recent highs.
Key level in focus: 0.65000 — an important area where buyers may look to step in.
Fundamentals: The US Dollar Index (DXY) is breaking below 98.100 support, pointing to further downside. A bearish DXY combined with bullish Gold strengthens the case for AUDUSD upside.
Event risk: Today’s US PCE release is key.
A soft print would reinforce the Fed’s dovish stance, supporting dollar weakness.
A hot print could complicate the bearish dollar narrative.
Next move: Monitoring how AUDUSD reacts around 0.65000 to assess whether buyers regain control or if deeper correction unfolds.
Trade safe,
Joe.
Trade closed: target reached
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Free Telegram Group:
t.me/+MDJZTdS-Mw0xZTA0
The 1% Traders Club:
t.me/+C08gijSq2PMyZTVk
t.me/+MDJZTdS-Mw0xZTA0
The 1% Traders Club:
t.me/+C08gijSq2PMyZTVk
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.