Current trend
Today Australian regulator made the interest rate decision and kept it on the level of 1.5%, as expected. RBA management considers the maintenance of the current monetary policy will help the economy to grow steadily and reach the inflation targets in the long term.
US currency is under pressure due to the disagreement of Canada, EU, and China with new US steel and aluminum import fees. EU and China are planning its protection measures, which can affect American economy and President Trump’s popularity negatively. The treat of trading war decreases the significance of US macroeconomic releases, so the AUD/USD pair can regain a part of February’s loss.
Today January Industrial Production release is expected in the USA. If the data are poor, the instrument can break the psychological level of 0.7800. Also, the traders will focus on RBA's Governor Philip Lowe Speech.
Support and resistance
On the 4-hour chart, the instrument is trading near the upper border of Bollinger Bands. The indicator is reversing sideways, as the price range stays the same, which reflects the further correction of the pair. MACD histogram is in the negative zone, keeping weak sell signal. Stochastic has left the oversold area and formed a strong sell signal.
Resistance levels: 0.7780, 0.7800, 0.7822, 0.7835, 0.7858.
Support levels: 0.7700, 0.7720, 0.7735, 0.7750, 0.7760.
Trading tips
Short positions can be opened below the level of 0.7750 with the targets at 0.7720, 0.7700 and stop loss 0.7770. Implementation period: 1–2 days.
Long positions can be opened above the level of 0.7800 with the targets at 0.7835, 0.7865 and stop loss 0.7775. Implementation period: 1–3 days.
Australian vs US Dollar
Buy Sell Spread
0.78229 0.78206 23
Scenario
Timeframe Day's Range
Recommendations SELL STOP
Entry Point 0.7745
Take Profit 0.7720, 0.7700
Stop Loss 0.7770
Support levels 0.7700, 0.7720, 0.7735, 0.7750, 0.7760, 0.7780, 0.7800, 0.7822, 0.7835, 0.7858
Alternative scenario
Recommendations BUY STOP
Entry Point 0.7805
Take Profit 0.7835, 0.7865
Stop Loss 0.7775
Support levels 0.7700, 0.7720, 0.7735, 0.7750, 0.7760, 0.7780, 0.7800, 0.7822, 0.7835, 0.7858
Today Australian regulator made the interest rate decision and kept it on the level of 1.5%, as expected. RBA management considers the maintenance of the current monetary policy will help the economy to grow steadily and reach the inflation targets in the long term.
US currency is under pressure due to the disagreement of Canada, EU, and China with new US steel and aluminum import fees. EU and China are planning its protection measures, which can affect American economy and President Trump’s popularity negatively. The treat of trading war decreases the significance of US macroeconomic releases, so the AUD/USD pair can regain a part of February’s loss.
Today January Industrial Production release is expected in the USA. If the data are poor, the instrument can break the psychological level of 0.7800. Also, the traders will focus on RBA's Governor Philip Lowe Speech.
Support and resistance
On the 4-hour chart, the instrument is trading near the upper border of Bollinger Bands. The indicator is reversing sideways, as the price range stays the same, which reflects the further correction of the pair. MACD histogram is in the negative zone, keeping weak sell signal. Stochastic has left the oversold area and formed a strong sell signal.
Resistance levels: 0.7780, 0.7800, 0.7822, 0.7835, 0.7858.
Support levels: 0.7700, 0.7720, 0.7735, 0.7750, 0.7760.
Trading tips
Short positions can be opened below the level of 0.7750 with the targets at 0.7720, 0.7700 and stop loss 0.7770. Implementation period: 1–2 days.
Long positions can be opened above the level of 0.7800 with the targets at 0.7835, 0.7865 and stop loss 0.7775. Implementation period: 1–3 days.
Australian vs US Dollar
Buy Sell Spread
0.78229 0.78206 23
Scenario
Timeframe Day's Range
Recommendations SELL STOP
Entry Point 0.7745
Take Profit 0.7720, 0.7700
Stop Loss 0.7770
Support levels 0.7700, 0.7720, 0.7735, 0.7750, 0.7760, 0.7780, 0.7800, 0.7822, 0.7835, 0.7858
Alternative scenario
Recommendations BUY STOP
Entry Point 0.7805
Take Profit 0.7835, 0.7865
Stop Loss 0.7775
Support levels 0.7700, 0.7720, 0.7735, 0.7750, 0.7760, 0.7780, 0.7800, 0.7822, 0.7835, 0.7858