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AUD/USD Technical Analysis - AUD/USD Trading: 2023-03-01
AUD/USD Technical Analysis Summary
Above 0.6770
Buy Stop
Below 0.6710
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| MA(200) | Sell |
| Fractals | Neutral |
| Parabolic SAR | Buy |
AUD/USD Chart Analysis
AUD/USD Technical Analysis
The AUDUSD technical analysis of the price chart on 1-hour timeframe shows AUDUSD: H1 is rebounding toward the 200-period moving average MA(200) which is falling itself. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 0.6770. A level below this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 0.6710. After placing the order, the stop loss is to be moved to the next fractal low, 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 consumer inflation slowed in January. Will the AUDUSD price continue advancing?
Australia’s consumer inflation slowed in January: the Australian Bureau of Statistics reported the consumer price index growth was 7.4% over year in January, slowing from 8.4% in December while a 8.1% increase was expected. Slowing inflation is bearish for a currency. However the current setup is bullish for AUDUSD.
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