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AUD USD Technical Analysis - AUD USD Trading: 2023-09-12
AUD/USD Technical Analysis Summary
Above 0.6449
Buy Stop
Below 0.6415
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| MA(200) | Sell |
| Fractals | Buy |
| Parabolic SAR | Buy |
AUD/USD Chart Analysis
AUD/USD Technical Analysis
The technical analysis of the AUDUSD price chart on 4-hour timeframe shows AUDUSD,H4 is rebounding toward the 200-period moving average MA(200) after hitting 11-month low four days ago. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 0.6449. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 0.6415. After placing the order, the stop loss is to be moved to the next fractal low 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 business sentiment improved in August. Will the AUDUSD price rebound continue?
Australia’s business sentiment improved in August: the National Australia Bank (NAB) reported the NAB Business Confidence Index of business sentiment rose to 2 in August from 1 in July. Readings above 0 indicate improving conditions, below indicate worsening conditions. The survey showed also strengthening of leading indicators: forward orders rose 1 point and labor costs eased to 3.2% in quarterly equivalent terms from 3.7% in the three months through June. Improving Australian business sentiment is bullish for Australian dollar and AUDUSD currency pair.
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