Fundamental analysis seeks to understand those factors that will influence price direction in the future, such as interest rates, inflation, and other key economic indicators. It is these factors that influence the supply and demand for one currency against another, so if we can understand these factors we can better understand the likely future direction of price. For example, high official interest rates in Australia against low official rates in the USA, all other factors being equal, will put upward pressure on the AUDUSD. Investors in the USA may want to borrow funds in the USA at the lower interest rate, and invest those funds at the higher rate in Australia, and to do so they will need to sell the USD and buy the AUD, hence, demand for the AUD is high, forcing the price upwards. The question is, do we really need to perform Fundamental analysis to take advantage of this?
If supply exceeds demand, prices will fall, and if demand exceeds supply, prices will rise. So if we look at a price chart, and we see that prices are rising, it must follow that demand currently exceeds supply. Conversely, if prices are falling, supply must exceed demand, and if prices are drifting sideways we can assume that supply and demand are about equal. All the Fundamental information we need to know is captured within the price action!
When supply and demand are about equal, we see the formation of consolidation zones (support and resistance). When demand exceeds supply we see the development of uptrends defined by a trendline or contained within a channel. The reverse is true when supply exceeds demand. Whether prices trend or drift sideways, there are tradeable ups and downs between support and resistance and channel lines, or breakouts beyond established support or resistance and channel lines, and this is where price action trading comes into play. If price hits resistance and begins to retrace, it's a possible sell signal. If price hits support and retraces, it's a possible buy signal. If price breaks through support, it's a possible sell signal, and if price breaks through resistance it's a possible buy signal. Simple as that!
If I were starting all over again, my focus would be on support and resistance, trendlines and channels, and watching price action when it interacts with these zones. My timeframe would be H4 and Daily, using the Daily to draw support and resistance, and H4 to draw trendlines and channels. I would trade the H4.
Trust this helps!