AUD/USD

AUD/USD: general analysis

Current trend, The AUD/USD pair grew by more than 80 points due to statements on monetary policy by Fed governor Jerome Powell. The Chairman said that at the moment the level of interest rates is "slightly below" the neutral level, which was perceived by investors as a signal of a possible slowdown in the rate of interest rates and caused an active sale of the US dollar. Meanwhile, in Australia, Q3 Building Capital Expenditure data were published: the figure fell by 0.5%, did not meet the forecast and affected AUD negatively. The decline New Homes Sales by 0.8% also did not support the course.

As for macroeconomic events that could affect the pair today, US Initial Jobless Claims and Personal Income and Spending data will be published at 15:30 (GMT+2). In addition, FOMC Meeting Minutes will be released at 21:00 (GMT+2).

Support and resistance

On the daily chart, the instrument was corrected to the upper border of Bollinger bands. MACD histogram is in the positive region, keeping the signal to open long positions.

Resistance levels: 0.7340, 0.7381, 0.7409, 0.7452.

Support levels: 0.7314, 0.7290, 0.7258, 0.7238, 0.7200, 0.7181, 0.7162.

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Trading tips

Long positions can be opened from the current level with the target at 0.7381 and stop loss 0.7300.

Short positions can be opened from the level of 0.7290 with the target at 0.7240 and stop loss 0.7320.

Implementation period: 1–3 days.

 

Scenario

Timeframe Intraday
Recommendation BUY
Entry Point 0.7321
Take Profit 0.7381
Stop Loss 0.7300
Key Levels 0.7162, 0.7181, 0.7200, 0.7238, 0.7258, 0.7290, 0.7314, 0.7340, 0.7381, 0.7409, 0.7452

 

Alternative scenario

 

Recommendation SELL STOP
Entry Point 0.7290
Take Profit 0.7240
Stop Loss 0.7320
Key Levels 0.7162, 0.7181, 0.7200, 0.7238, 0.7258, 0.7290, 0.7314, 0.7340, 0.7381, 0.7409, 0.7452

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