Analysis of the trend of the Australian dollar on 9.17, countdown 1 day 17 hours

AUDUSD H4

As the Federal Reserve's interest rate decision approaches, market expectations for a significant interest rate cut by the Federal Reserve increase, leading to a decline in the US dollar and an increase in the Australian dollar. In addition to focusing on the early morning interest rate decision of the Federal Reserve this Thursday, it is also necessary to pay attention to the release of Australia's employment market data. These two data points determine the short-term interest rate differential between the Australian dollar and the US dollar. If the market expects the interest rate differential to increase, it may further boost the Australian dollar. The Reserve Bank of Australia has recently stated that it will not consider lowering interest rates in the near term. However, there is already a 100% expectation in the market for an interest rate cut by the Federal Reserve the day after tomorrow. It now depends on the size of the interest rate cut. The Reserve Bank of Australia may become the last central bank in the world to start an interest rate cutting cycle.

From a technical perspective, the Australian dollar has already broken through the previous downtrend line and has exceeded the previous high near 0.673. In the short term, it may range between 0.675 and 0.668. If it breaks and stabilizes above 0.675, the Australian dollar may challenge a new high for the year.

The first resistance level above is 0.675, the second is 0.676, and the third is 0.680.

The first support level below is 0.673, the second is 0.671, and the third is 0.670.

# This advice is only general advice and does not take into account your specific financial situation and needs. Investment involves risks, so please evaluate carefully. #