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AUD USD Technical Analysis - AUD USD Trading: 2023-07-27
AUD/USD Technical Analysis Summary
Above 0.6820
Buy Stop
Below 0.6742
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Buy |
| MA(200) | Buy |
| Fractals | Buy |
| 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 after rebounding above the 200-period moving average MA(200) which is leveling off. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 0.6820. 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 0.6742. 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 latest inflation data were weaker than expected. Will the AUDUSD price rebounding reverse?
Australian Bureau of Statistics latest inflation data were weaker than expected. June consumer price index growth dropped to 5.4%over year in line with expectations, though previous month's inflation was revised down to 5.5%. At the same time monthly increase in consumer prices also slowed – to 08% from 1.4% in May. Slowing Australian inflation is bearish for Australian dollar hence for AUDUSD pair. However, the current setup is bullish for AUDUSD.
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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.
