Forex Daily Analysis : 06 April 2021

Forex daily analysis 06 April 2021 will discuss the movement of AUDUSD in today's trading Tuesday 06 April 2021 is expected to move downwards, this is due to the still strengthening of the US Dollar currency. However, ahead of the release of important Australian data, namely the RBA Rate Statment and Cash Rate which are planned to be released at 11:30 WIB, causing the Aussie movement to slow down slightly. In fact, this morning the release of Caixin Services PMI (China) data was released at a positive release of 54.3, good above the prediction and the previous period which was only 52.2 and 51.5. The focus of market participants is not only waiting for the RBA's decision, on the other hand, the market is profit-taking on the Aussie increase for some time now. The RBA's prediction seems to give its view on the slowdown of the Australian economy and the slowness of monetary policy to be taken, although Australian bonds and employment data are starting to show positive things. The US dollar currency began to move and appeared to rise against several other major currencies in Tuesday's trading today in the Asian session. However, market participants are still bullish on the weakening of the US dollar due to the additional fiscal stimulus plan that will be launched. The plan for additional fiscal stimulus was outlined by President Joe Biden last week. The cautious attitude of market participants in digesting the launch plan. The weakening of the Greenback was triggered by a decline in US bond yields for long-term tenors in 10 years. This yield fell below the level of 1.70%, a decrease from its high of around 3.4 basis points. The impact of this decline also had an impact on the movement of the stock exchange floor on Wall Street in America. S&P 500 stock index futures fell 0.10%, down from their highest levels reached in the previous market.

Forex Daily Analysis Predictions

Today's FOREX prediction on the AUDUSD pair is expected to weaken/decline and the recommended OP (Open Position) is SELL at the level of 0.76300. With a Target Profit (TP) of 10 - 20 points and a Stop loss (SL) of 5 - 10 points.
This the daily analysis of forex 06 april 2021. Keep Money Management and Risk Management first in your trading. Visit GIC Indonesia to get information about the world of trading. You can also join us in the GIC Trade Telegram Community and GIC Trade Telegram Channel. Don't forget to check out the GIC Indonesia Youtube account which is full of a lot of information, and follow our Instagram account to get information about various interesting webinars that you can participate in.