FX:AUDUSD   Australian Dollar/U.S. Dollar
18 0 2
Current trend

Since the beginning of the week, the pair is growing.
Today the pair was supported by strong data from Australia. New Motor Vehicle Sales for November grew to 6%, while the House Price Index came out in line with forecasts at 2%. At the same time, the pair is pressured by expectations of the Fed Interest Rate Decision that is due tomorrow. Markets expect rates to be increased that would add to the pressure on the pair.

Today attention needs to be paid to the Consumer Price Index in the US. Volatility on the market is expected to be low.

Support and resistance

On the 4-hour chart, the pair is trading between the middle and upper MA’s of Bollinger Bands . Moving averages with 100 and 144 periods are above the price and directed horizontally. MACD histogram is in the positive zone and its volumes remain almost unchanged. ADX indicates pair’s decline, DI lines cross over and directed down.
Today, the pair is expected to remain within the range of 0.7247-0.7302.

Support levels: 0.7247 (middle MA of Bollinger Bands , MA50), 0.7182, 0.7159 (this week low), 0.7133, 06984, 0.6908.
Resistance levels: 0.7280, 0.7302 (MA100), 0.7343 (last week low), 0.7353, 0.7385.

Trading tips

Long positions can be opened after the price consolidation above the level of 0.7280 with targets at 0.7302, 0.7343 and stop-loss at 0.7260.
Short positions can be opened after the breakdown of the level of 0.7247 with the target at 0.7182 and stop-loss at 0.7280.
Scenario validity – 1-2 days.
More analytic from LiteForex https://www.liteforex.com/trading/forex-analysis/?uid=880952068&cid=12118
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out