Current trend
The AUD/USD pair strengthened due to the start of US-China trade war and weak June US employment market data.
Last Friday, negative statistics on the US labor market were published. The rise in the unemployment rate by 0.2% in June and the sudden slowdown in the growth of the average hourly wage raise doubts about Fed's "hawkish" plans. However, the market continues to ignore negative macroeconomic statistics from Australia, focusing on the United States.
Today, there is a lack of significant macroeconomic releases in both counties, so market participants will focus on the trade conflict between China, the EU and the United States.
Support and resistance
On the 4-hour chart, the upward trend is in the correction. The instrument is traded within a narrow price range of 0.7454–0.7485. Bollinger bands reversed upwards, and the price range expanded, reflecting the maintenance of the upward dynamics. MACD is in the positive zone, holding a strong buy signal. Stochastic does not give clear signals for opening positions.
Support levels: 0.7309, 0.7351, 0.7399, 0.7441.
Resistance levels: 0.7500, 0.7547, 0.7602, 0.7653.
Trading tips
Long positions can be opened from the current level with the targets at 0.7500, 0.7525 and stop loss 0.7420. Implementation period: 1–2 days.
Short positions can be opened below the level of 0.7420 with the target at 0.7345 and stop loss 0.7450. Implementation period: 1–3 days.
Australian vs US Dollar
Buy Sell Spread
0.74445 0.74423 22
Scenario
Timeframe Day's Range
Recommendations BUY
Entry Point 0.7457
Take Profit 0.7500, 0.7525
Stop Loss 0.7420
Support levels 0.7309, 0.7351, 0.7399, 0.7441, 0.7500, 0.7547, 0.7602, 0.7653.
Alternative scenario
Recommendations SELL STOP
Entry Point 0.7415
Take Profit 0.7345
Stop Loss 0.7450
Support levels 0.7309, 0.7351, 0.7399, 0.7441, 0.7500, 0.7547, 0.7602, 0.7653.
The AUD/USD pair strengthened due to the start of US-China trade war and weak June US employment market data.
Last Friday, negative statistics on the US labor market were published. The rise in the unemployment rate by 0.2% in June and the sudden slowdown in the growth of the average hourly wage raise doubts about Fed's "hawkish" plans. However, the market continues to ignore negative macroeconomic statistics from Australia, focusing on the United States.
Today, there is a lack of significant macroeconomic releases in both counties, so market participants will focus on the trade conflict between China, the EU and the United States.
Support and resistance
On the 4-hour chart, the upward trend is in the correction. The instrument is traded within a narrow price range of 0.7454–0.7485. Bollinger bands reversed upwards, and the price range expanded, reflecting the maintenance of the upward dynamics. MACD is in the positive zone, holding a strong buy signal. Stochastic does not give clear signals for opening positions.
Support levels: 0.7309, 0.7351, 0.7399, 0.7441.
Resistance levels: 0.7500, 0.7547, 0.7602, 0.7653.
Trading tips
Long positions can be opened from the current level with the targets at 0.7500, 0.7525 and stop loss 0.7420. Implementation period: 1–2 days.
Short positions can be opened below the level of 0.7420 with the target at 0.7345 and stop loss 0.7450. Implementation period: 1–3 days.
Australian vs US Dollar
Buy Sell Spread
0.74445 0.74423 22
Scenario
Timeframe Day's Range
Recommendations BUY
Entry Point 0.7457
Take Profit 0.7500, 0.7525
Stop Loss 0.7420
Support levels 0.7309, 0.7351, 0.7399, 0.7441, 0.7500, 0.7547, 0.7602, 0.7653.
Alternative scenario
Recommendations SELL STOP
Entry Point 0.7415
Take Profit 0.7345
Stop Loss 0.7450
Support levels 0.7309, 0.7351, 0.7399, 0.7441, 0.7500, 0.7547, 0.7602, 0.7653.