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AUD/USD Technical Analysis - AUD/USD Trading: 2024-01-18
AUD/USD Technical Analysis Summary
Below 0.6524
Sell Stop
Above 0.6714
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Sell |
| Fractals | Sell |
| Parabolic SAR | Sell |
AUD/USD Chart Analysis
AUD/USD Technical Analysis
The technical analysis of the AUDUSD price chart on daily timeframe shows AUDUSD,Daily is retracing after breaching below the 200-day moving average MA(200) following a retreat after hitting six-month high three weeks ago. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 0.6524. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 0.6714. After placing the order, the stop loss is to be moved to the next fractal high indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Forex - AUD/USD
Australia’s employment came in mixed for December 2023. Will the AUDUSD price retreating persist?
Australia’s employment remained steady in December: the Australian Bureau of Statistics reported the unemployment rate remained steady at 3.9% in December, in line with expectation. However, the number of employed people during the previous month fell by 65.1 thousand after increasing by 72.6 thousand in November when an increase by 15.4 thousand was expected. At the same time participation rate decreased to 66.8%. These changes are bearish for the Australian dollar and hence the AUDUSD pair.
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