Current trend
Since the beginning of the week the pair AUD/USD has been showing stable growth in view of weakening of the US currency.
USD is under pressure from uncertainty about further monetary policy of the country. On the one hand, FOMC is determined to increase the interest rate in the current year, but on the other hand, recent macroeconomic statistics of the USA does not coincide with the plans of the American regulator. Yesterday market players expected to receive some information about it from the head of FOMC but were disappointed. The statement by Janet Yellen was very cautious, and generally dedicated to globalization and technological progress. In the end of the statement the chair of FOMC repeated that further monetary policy depends on inflation and employment indicators.
Today market participants have to pay attention to the release of statistics on house sales transations in progress from the USA (16:00 GMT+2). Weak US real estate market indicators will lead to further strengthening of the trading instrument. Other macroeconomic events of the day include statements by the heads of Central Banks of England, Canada, Japan, and ECB.
Support and resistance
On the D1 chart the pair moved away from the support level of 0.7580 and resumed growth. Bollinger Bands are directed upwards, while the price range remains unchanged which is a reason for the preservation of the current trend. MACD histogram is in thee positive zone maintaining the buy signal. Stochatic does not give clear signal for entering the market.
Support levels: 0.7560, 0.7540, 0.7515, 0.7485.
Resistance levels: 0.7600, 0.7620, 0.7635, 0.7680.
Trading tips
Long positions may be opened from the current price with targets at 0.7635, 0.7655 and stop-loss at 0.7550. Implementation time: 1-2 days.
Short positions could be opened at the level of 0.7550 with targets at 0.7515 and stop-loss at 0.7570. Implementation time: 1-2 days.
Since the beginning of the week the pair AUD/USD has been showing stable growth in view of weakening of the US currency.
USD is under pressure from uncertainty about further monetary policy of the country. On the one hand, FOMC is determined to increase the interest rate in the current year, but on the other hand, recent macroeconomic statistics of the USA does not coincide with the plans of the American regulator. Yesterday market players expected to receive some information about it from the head of FOMC but were disappointed. The statement by Janet Yellen was very cautious, and generally dedicated to globalization and technological progress. In the end of the statement the chair of FOMC repeated that further monetary policy depends on inflation and employment indicators.
Today market participants have to pay attention to the release of statistics on house sales transations in progress from the USA (16:00 GMT+2). Weak US real estate market indicators will lead to further strengthening of the trading instrument. Other macroeconomic events of the day include statements by the heads of Central Banks of England, Canada, Japan, and ECB.
Support and resistance
On the D1 chart the pair moved away from the support level of 0.7580 and resumed growth. Bollinger Bands are directed upwards, while the price range remains unchanged which is a reason for the preservation of the current trend. MACD histogram is in thee positive zone maintaining the buy signal. Stochatic does not give clear signal for entering the market.
Support levels: 0.7560, 0.7540, 0.7515, 0.7485.
Resistance levels: 0.7600, 0.7620, 0.7635, 0.7680.
Trading tips
Long positions may be opened from the current price with targets at 0.7635, 0.7655 and stop-loss at 0.7550. Implementation time: 1-2 days.
Short positions could be opened at the level of 0.7550 with targets at 0.7515 and stop-loss at 0.7570. Implementation time: 1-2 days.