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AUD/USD Technical Analysis - AUD/USD Trading: 2024-06-17
AUD/USD Technical Analysis Summary
Below 0.6590
Sell Stop
Above 0.6617
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Neutral |
| Donchian Channel | Sell |
| MA(200) | Sell |
| Fractals | Sell |
| Parabolic SAR | Buy |
AUD/USD Chart Analysis
AUD/USD Technical Analysis
The technical analysis of the AUDUSD price chart on 1-hour timeframe shows AUDUSD,H1 is retreating under the 200-period moving average MA(200) after a rebound following return below the MA(200) four days ago. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 0.6590. 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 0.6617. 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
Job announcements decline in Australia continued in May albeit at slower pace. Will the AUDUSD price retreating persist?
Australia and New Zealand Banking Group reported the number of jobs advertised in major daily newspapers and websites covering the capital cities in Australia continued to decline albeit at a slower pace: the ANZ-Indeed Australian Job Ads declined 2.1% over month in May after 2.3% fall in April. It was the fourth consecutive month of declines. And Job Ads is 8.2% lower since the end of last year. The decline in ANZ-Indeed Job Ads was relatively broad-based. Accounting and construction Job Ads fell the most in May, which offset some strength in education and for nurses. Overall, Job Ads are down in around 90% of occupational categories over the past year. Continuing job advertisements decline indicates persisting softening of demand for labor which is bearish for Australian dollar and hence the AUDUSD currency pair.
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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.