- Analytics
- Technical Analysis
AUD/USD Technical Analysis - AUD/USD Trading: 2024-07-09
AUD/USD Technical Analysis Summary
Above 0.6747
Buy Stop
Below 0.6727
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Sell |
| Parabolic SAR | Buy |
AUD/USD Chart Analysis
AUD/USD Technical Analysis
The technical analysis of the AUDUSD price chart on 1-hour timeframe shows AUDUSD,H1 is retreating toward the 200-period moving average MA(200) after hitting six-month high yesterday. We believe the bearish movement will reverse after the price breaches above the upper bound of the Donchian channel at 0.6747. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 0.6727. After placing the order, the stop loss is to be moved to the next fractal low indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Forex - AUD/USD
Australia’s business sentiment improved in June. Will the AUDUSD price retreating continue?
Australia’s business sentiment improved in June: the National Australia Bank (NAB) reported the NAB Business Confidence Index of business sentiment jumped to 4 in June from upwardly revised -2 in May. Readings above 0 indicate improving conditions, below indicate worsening conditions. The survey showed increase in seven out of eight industries including manufacturing and wholesale. Improving Australian business sentiment is bullish for Australian dollar and AUDUSD currency pair. At the same time Australia Consumer Sentiment weakened: Australia's Westpac-Melbourne Institute Consumer Sentiment index fell by 1.1% over month in July after a 1.7% rise in June. Worsening consumer sentiment is a downside risk for Australian dollar and AUDUSD currency pair.
- Get Certificate
Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.