AUDUSD bias bullish after hot Australian inflation data
Technical Analysis Summary AUD/USD: Buy
| Indicator | VALUE | Signal |
| RSI | Neutro | |
| MACD | Buy | |
| Donchian Channel | Buy | |
| MA(200) | Sell | |
| Fractals | Buy | |
| Parabolic SAR | Buy |
Chart Analysis
The technical analysis of the AUDUSD price chart on 4-hour timeframe shows AUDUSD,H4 is rebounding to test the 200-period moving average MA(200) which is declining itself. We believe the bullish momentum will continue after the price breaches above the 200-period moving average MA(200) at 0.6533. 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 0.6438. 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.
Analisi Fondamentale -
Australia’s latest inflation data were hotter than expected. Will the AUDUSD price rebounding persist?
Australian Bureau of Statistics latest inflation data were hotter than expected. March consumer price index growth ticked up to 3.5% over year after 3.4% growth in February when no change was forecast. A closely watched measure of core inflation, the trimmed mean inflation, which excludes volatile prices such as energy and food prices, also rose: the trimmed mean growth rose to 1.0% over quarter from 0.8% in fourth quarter of 2023 when no change was forecast. Rising Australian inflation is bullish for Australian dollar hence for AUDUSD pair.