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AUD USD Technical Analysis - AUD USD Trading: 2023-08-15
AUD/USD Technical Analysis Summary
Above 0.6521
Buy Stop
Below 0.6453
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Sell |
| MA(200) | Sell |
| Fractals | Neutral |
| Parabolic SAR | Buy |
AUD/USD Chart Analysis
AUD/USD Technical Analysis
The technical analysis of the AUDUSD price chart on 4-hour timeframe shows AUDUSD,H4 is retracing up toward the 200-period moving average MA(200) after hitting nine month low yesterday. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 0.6521. 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 0.6453. 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 wage growth was steady in second quarter. Will the AUDUSD price retreating persist?
Australia’s wage growth was steady in June quarter: the Australian Bureau of Statistics reported the Wage Price Index rose 0.8% over quarter in Q2 after 0.8% growth in Q1 when an increase in growth rate to 0.9% was expected. This is bearish for AUDUSD. However, the current setup is bullish for the currency pair.
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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.
