Current trend
The AUD/USD pair interrupted a long fall due to the significant decline of the US dollar.
The American currency was under pressure after the escalation of the trade tense had a negative impact on the dynamics of the government bonds’ yield. In addition, Philadelphia Fed Manufacturing Survey fell sharply from 34.4 points in May to 19.9 in June, which is the worst decrease since November 2016.
Today at 15:45 (GMT+2) Markit Economics will publish data on US PMI.
Support and resistance
On the 4-hour chart, the instrument tests the psychological level of 0.7400. Bollinger bands are trying to reverse sideways, and the price range was narrowed, which reflects the development of the correction. MACD histogram is in the negative zone, keeping the sell signal. Stochastic entered the oversold area.
Resistance levels: 0.7400, 0.7483, 0.7532, 0.7573.
Support levels: 0.7310, 0.7340, 0.7377.
Trading tips
Long positions can be opened above the level of 0.7415 with the target at 0.7485 and stop loss 0.7370.
Short positions can be opened below the level of 0.7375 with the target at 0.7310 and stop loss 0.7415.
Implementation period: 1–2 days.
Australian vs US Dollar
Buy Sell Spread
0.74308 0.74286 22
Scenario
Timeframe Day's Range
Recommendations BUY STOP
Entry Point 0.7420
Take Profit 0.7485
Stop Loss 0.7370
Support levels 0.7310, 0.7340, 0.7377, 0.7400, 0.7483, 0.7532, 0.7573
Alternative scenario
Recommendations SELL STOP
Entry Point 0.7370
Take Profit 0.7310
Stop Loss 0.7415
Support levels 0.7310, 0.7340, 0.7377, 0.7400, 0.7483, 0.7532, 0.7573
The AUD/USD pair interrupted a long fall due to the significant decline of the US dollar.
The American currency was under pressure after the escalation of the trade tense had a negative impact on the dynamics of the government bonds’ yield. In addition, Philadelphia Fed Manufacturing Survey fell sharply from 34.4 points in May to 19.9 in June, which is the worst decrease since November 2016.
Today at 15:45 (GMT+2) Markit Economics will publish data on US PMI.
Support and resistance
On the 4-hour chart, the instrument tests the psychological level of 0.7400. Bollinger bands are trying to reverse sideways, and the price range was narrowed, which reflects the development of the correction. MACD histogram is in the negative zone, keeping the sell signal. Stochastic entered the oversold area.
Resistance levels: 0.7400, 0.7483, 0.7532, 0.7573.
Support levels: 0.7310, 0.7340, 0.7377.
Trading tips
Long positions can be opened above the level of 0.7415 with the target at 0.7485 and stop loss 0.7370.
Short positions can be opened below the level of 0.7375 with the target at 0.7310 and stop loss 0.7415.
Implementation period: 1–2 days.
Australian vs US Dollar
Buy Sell Spread
0.74308 0.74286 22
Scenario
Timeframe Day's Range
Recommendations BUY STOP
Entry Point 0.7420
Take Profit 0.7485
Stop Loss 0.7370
Support levels 0.7310, 0.7340, 0.7377, 0.7400, 0.7483, 0.7532, 0.7573
Alternative scenario
Recommendations SELL STOP
Entry Point 0.7370
Take Profit 0.7310
Stop Loss 0.7415
Support levels 0.7310, 0.7340, 0.7377, 0.7400, 0.7483, 0.7532, 0.7573