Aussie is a True or False Breakout ?
#AUDUSD#
Aussie is a True or False Breakout ?
AUDUSD seems like a successfully breakout at 0.67000 Resistance .
however , there are another two STRONG resistance at 0.6800 & 0.7000 .
From Technical point of view ,yesterday might be a FAKE breakout by depending on what will be happen today and tomorrow .
On the other hand , today RBA will be release the cash rate 0.25% same as previously ,but investors must be aware of the RBA monetary policy statement is all about .especially the point of view for the economy outlooks by RBA and what will be do if continued weaken .
Lastly ,Tomorrow quarterly GDP data will be release by -0.4% as prediction ,compared to 0.5% last quarter ,Aussie will be continuously strong ?this is the KEY thing we must be careful ..
In conclusion , this coming two days will be very important to AUDUSD ,if technically cant continued to breakout upper Resistances at 0.68000 & 0.7000 ,it could be Retrace back to the downtrend since 2018 JAN .
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