FX:AUDUSD   Australian Dollar / U.S. Dollar
64 0 3
Current trend

On Tuesday the AUD/USD             pair strengthened to its new local high being supported by results of the RBA monetary policy meeting.

RBA’s assessment of economic prospects was quite optimistic, and interest rates were left unchanged at 1.75%. The Regulator believes that the current monetary policy would be consistent with sustainable growth in the economy. However, inflation in Australia is expected to remain quite low for some time, but some signs of improvement are seen here as well.

The US Dollar             , in its turn, is still under pressure from weak US labour market data and due to uncertainty regarding Fed’s tightening of monetary policy in the coming months.

Support and resistance

Bollinger Bands on the daily chart is showing a strong growth while the price range is widening actively. However, the price remains above the upper MA that indicates a downward correction possibility. MACD is growing and keeping a buy signal. Stochastic has reached its highs in the overbought zoned and turned horizontally.
The indicators recommend waiting for clearer trading signals.

Support levels: 0.7426, 0.7400, 0.7369 (7 June level), 0.7327, 0.7300, 0.7259, 0.7200 (near 2 June low), 0.7144 (24 May low).
Resistance levels: 0.7463 (7 June high), 0.7500 (5 May level), 0.7533, 0.7567, 0.7593, 0.7618 (3 May level).

Trading tips

Long positions can be opened after the levels of 0.7463 and 0.7500 are broken out with targets at 0.7567, 0.7593, 0.7618 and stop-loss at 0.7426, 0.7400. Validity – 2-4 days.
Short positions can be opened after the levels of 0.7426, 0.7400 are broken down with the target at 0.7200 and stop-loss at 0.7463. Validity – 2-3 days.
More analytic from LiteForex:
English https://www.liteforex.com/trading/forex-analysis/?uid=880952068&cid=12118
Malay https://www.liteforex.my/trading/forex-analysis/?uid=880952068&cid=12118
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out