FX.co ★ Konnect2fx | AUD/USD

I believe that the AUDUSD pair continues its confident upward movement, and I observe that we have been growing practically without any significant pullbacks. I note that we have already cleared all immediate targets, and I see that closing above 0.6630 confirms the bullish pressure. I feel that the momentum is still heading north, and I acknowledge that a substantial correction has long been brewing within this trend. However, I must admit that I find no tangible sign of that pullback beginning just yet, which leaves me vigilant.l

I consider the upcoming dynamics of the US dollar to be critically important, and I anticipate heightened volatility because next week we will see the release of US inflation data. I have noticed that the dollar has already paused its decline, and I wonder if this is a moment of consolidation before its next move. Furthermore, I do not forget that the Reserve Bank of Australia meeting is also approaching, and I view this event as a major catalyst for the pair. I weigh both of these fundamental factors carefully, and I conclude that they could introduce the turbulence needed for a meaningful retracement. Given the extended nature of the rally, I personally am not considering initiating new long positions at these elevated prices. Instead, I maintain my strategic outlook for a potential reversal zone. I believe we could see a climb above the 0.6665 level, and it is there that I plan to look for selling opportunities. I intend to try to sell, at least within the context of a broader pullback, as I assess that area could offer a favorable risk-reward ratio for a corrective move downward. I hold the view that patience is key here, and I will be watching the price action closely for any signs of exhaustion or a shift in sentiment to time my entry precisely.