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AUD/USD Technical Analysis - AUD/USD Trading: 2024-10-08
AUD/USD Technical Analysis Summary
Below 0.67143
Sell Stop
Above 0.67650
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| Donchian Channel | Neutral |
| MA(200) | Sell |
| Fractals | Sell |
| Parabolic SAR | Sell |
| MACD | Sell |
AUD/USD Chart Analysis
AUD/USD Technical Analysis
The technical analysis of the AUDUSD price chart on 4-hour timeframe shows AUDUSD,H4 is declining after returning under the 200-period moving average MA(200) which is declining itself. RSI indicator is at the threshold of oversold zone. We believe bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 0.67143. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 0.67650. After placing the order, the stop loss is to be moved to the next fractal high 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 consumer sentiment improved in October. Will the AUDUSD price decline persist?
Australia’s consumer sentiment improved in October: the Westpac Banking Corporation reported the Westpac Consumer Sentiment Index rose 6.2% in October after declining 0.5% in September. The index has held below 100 since February 2022 and rose to a 2-1/2 year high of 89.8 in October. Consumers' views on economic conditions for the next 12 months surged 14.3% to 92.8 and their assessment for the next 5 years rose 8.0% to 97.8.. This is bullish for Australian dollar and AUDUSD currency pair. However, the current setup is bearish for the pair.
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