Weak US economic data is supporting the AUD/USD rally

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🔔🔔🔔AUD/USD new:

➡️ The AUD/USD pair climbed toward 0.6460 during Tuesday’s U.S. session.

➡️ The Australian dollar strengthened as risk-sensitive currencies outperformed following a successful resolution between the U.S. and China, who agreed to lower import tariffs after a two-day meeting in Switzerland, effectively easing trade tensions.

➡️ Additionally, weaker-than-expected U.S. CPI data weighed on the U.S. dollar, providing further support for the AUD/USD to move higher.

Personal opinion:
➡️ AUD/USD remains bullish in the short term after the above news supported the pair to maintain its upward momentum.

➡️ However, the pair is in overbought territory and is likely to have a pullback. So watch for technical pullbacks to buy at good prices.

➡️ Analysis based on important resistance - support and Fibonacci levels combined with SMA to come up with a suitable strategy

FM's personal plan:
🔆Price Zone Setup:

👉Buy AUD/USD 0.6430 - 0.6440
❌SL: 0.6400 | ✅TP: 0.6490

FM wishes you a successful trading day 💰💰💰

Feragatname

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