– Orbex Forex Trading Blog

The new U.S. Administration may have hastened some economic and market trends, but the underlying factors were already underway. Inflation has been picking up since last July; the U.S. consumer has been pulling on the reins for months now amid tapped-out credit; the Federal government has been careening towards a debt crisis. The stock market…

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AUD/USD edged lower to 0.6621 last week but drew support from 38.2% retracement of 0.6348 to 0.6823 at 0.6642 and recovered. Upside is capped below 0.6766 resistance and initial bias stays neutral this week first. On the downside, break of 0.6621 and sustained trading 0.6642 will target 61.8% retracement at 0.6529. Nevertheless, break of 0.6766…

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