The 50 day EMA is a key factor to consider in the current market situation. Breaking above the 0.6775 level could lead to a potential move to the 0.6850 level. The upcoming release of important numbers will likely influence the direction of the market, with a possible lean towards the upside.
A significant drop in these numbers could result in a higher value for the Australian dollar, as investors may interpret it as a signal for a potential relaxation by the Federal Reserve. This is a crucial point to monitor, as it could lead to interesting developments in the near future.
Stay informed about today’s economic events by referring to our economic calendar.