AUDUSD forecast bearish after Australian GDP report
Technical Analysis Summary AUD/USD: Sell
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Neutral | |
| Donchian Channel | Neutral | |
| MA(200) | Sell | |
| Fractals | Sell | |
| Parabolic SAR | Sell |
Chart Analysis
The AUDUSD technical analysis of the price chart on 1-hour timeframe shows AUDUSD: H1 is declining after testing the 200-period moving average MA(200) which is inclined down itself. We believe the bearish momentum will continue after the price breaches above the lower bound of the Donchian channel at 0.6677. 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 0.6715. After placing the order, the stop loss is to be moved to the next fractal high, 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 -
Australian economy growth slowed in the third quarter of 2022. Will the AUDUSD price persist its sliding?
Australian economy growth slowed in the third quarter of 2022. The Australian Bureau of Statistics report showed Australian GDP rose 0.6% over quarter in Q3 after 0.9% growth in Q2 2022, when a 0.7% growth was forecast . This is bearish for AUDUSD.