AUDUSD forecast bullish after commodities price index rise
Technical Analysis Summary AUD/USD: Buy
| Indicator | VALUE | Signal |
| RSI | Neutrální | |
| MACD | Buy | |
| Donchian Channel | Neutrální | |
| MA(200) | Sell | |
| Fractals | Buy | |
| Parabolic SAR | Buy |
Chart Analysis
The AUDUSD technical analysis of the price chart on 1-hour timeframe shows AUDUSD: H1 has risen to test the 200-period moving average MA(200) which has leveled off. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 0.7743. 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 0.7705. After placing the order, the stop loss is to be moved to the next fractal low, 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.
Fundamentální analýza -
The Index of Commodity Prices continued to rise in April. Will the AUDUSD continue rebounding?
The Index of Commodity Prices continued to rise in April. Commodities account for over half of Australia's export earnings. The Reserve Bank of Australia reported the Index of Commodity Prices rose 34.7% over year in April after 27.2% increase in previous month. This is bullish for AUDUSD.