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AUD USD Technical Analysis - AUD USD Trading: 2023-12-07
AUD/USD Technical Analysis Summary
Below 0.6524
Sell Stop
Above 0.6597
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Buy |
| Fractals | Sell |
| Parabolic SAR | Sell |
AUD/USD Chart Analysis
AUD/USD Technical Analysis
The AUDUSD technical analysis of the price chart on 4-hour timeframe shows AUDUSD, H4 is retreating toward the 200-period moving average MA(200) after hitting four-month high three days ago. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 0.6524. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 0.6597. After placing the order, the stop loss is to be moved to the next fractal high 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 trade surplus rose less than expected in October. Will the AUDUSD price retreating continue?
Australia’s trade surplus rose less than expected in October: the Australian Bureau of Statistics reported the trade surplus rose to A$7.13 billion in October after $6.18 billion surplus in September, when an increase to $7.75 billion was forecast. The increase was driven by decline in imports and increase in exports: goods exports rose 0.4% while their imports fell 1.9%. Lower than expected rise in Australian goods trade surplus is bearish for AUDUSD.
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