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AUD USD Technical Analysis - AUD USD Trading: 2024-09-12
AUD/USD Technical Analysis Summary
Above 0.66938
Buy Stop
Below 0.66214
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Buy |
| MA(200) | Buy |
| Fractals | Neutral |
| 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 retracing up above the 200-period moving average MA(200) after hitting one-month low yesterday. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 0.66938. 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 0.66214. 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 consumers expect lower inflation in next twelve months. Will the AUDUSD price rebounding persist?
Australia’s consumers expect slightly lower inflation in next twelve months: the Melbourne Institute (MI) report indicated the MI Inflation Expectations index declined to 4.4% in September from 4.5% in August. At the same time last inflation data indicated Australia's inflation rate rose to 3.8% year over year in Q2 of 2024 from a nine-quarters low of 3.6% in Q1, which is bullish for the Australian dollar and AUDUSD pair. On the other hand, expectations of lower consumer inflation in Australia are bearish for AUDUSD. However the current setup is bullish for the pair.
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