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AUD USD Exchange Rate Live

AUDUSD Live Chart

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Status: Closed Trading
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Technical Analysis

The AUDUSD technical analysis of the price chart on 1-hour timeframe shows AUDUSD, H1 is retracing up toward the 200-period moving average MA(200) after retreating to 1-week low yesterday. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 0.64698. 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 0.64391. 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 -

Australia’s retail sales rose sharply in June. Will the AUDUSD price rebound?

Australia’s retail sales growth accelerated in June when a slowing was expected: the Australian Bureau of Statistics reported Australia’s retail sales rose 1.1% over month in June after upwardly revised 0.5% growth in previous month, when 0.4% growth was forecast. This was the strongest monthly growth since March 2022. Slower growth for clothing, footwear, and department stores sales didn’t offset stronger gains in food and household goods sales. Retail sales jumped 4.9% over year - the highest since March 2023, accelerating from a 3.5% increase in May. Rising retail sales is bullish for Australian dollar and hence AUDUSD. At the same time, the Australian Bureau of Statistics reported the previous day consumer prices In Australia rose at the slowest pace in over four years in Q2 - 2.1% over year. The weaker inflation report reinforced markets expectations of a 25 basis point rate cut at the Reserve Bank of Australia ’s August meeting. Expectations of an August rate cut by the RBA are downside risk for the AUDUSD pair.

IndicatorSignal
RSI Neutral
MACD Buy
Donchian Channel Buy
MA(200) Sell
Fractals Neutral
Parabolic SAR Buy
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AUD USD News

The RBA’s Rate Hold Amidst Global Cuts

The RBA’s Rate Hold Amidst Global Cuts

Australia's central bank has maintained its interest rates, diverging from the global trend of rate cuts. Key Drivers Inflation...

24/9/2024
AUD Faces Resistance: Consumer Mood Brightens, But Technical Obstacles Remain

AUD Faces Resistance: Consumer Mood Brightens, But Technical Obstacles Remain

Australian consumer sentiment rose to its highest level in 20 months in February, supporting the Australian dollar (AUD),...

13/2/2024
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