The USD fell in the US session as share markets rallied hard for the end of month window dressing. I am expecting to see the USD bounce with support coming from the interest rate narrative. I have marked up the major FX pairs for trades I am looking for and the price action I want to see first.
The Charts are all 30 Minute time periods.
Aussie interest rates are out at 2:30pm AEDT today so we should see some increased volatility after the release. I expect that the RBA will give a ‘closer’ timeline for rate rises and bring it forward from 2023 to this year. If so, expecting to see a flush lower to clear out some buyers before a ramp higher.
The Euro spiked higher and is extended so will be looking for a lower high to hold for a short scalp.
The Pound has retested the 1.3440 area so expecting to see selling pressure build for a short.
Expecting a flush lower in the USDJPY but any USD strength may negate this move.