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AUD/USD Technical Analysis - AUD/USD Trading: 2024-04-03
AUD/USD Technical Analysis Summary
Above 0.6525
Buy Stop
Below 0.6504
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| MA(200) | Sell |
| Fractals | Buy |
| Parabolic SAR | Buy |
AUD/USD Chart Analysis
AUD/USD Technical Analysis
The technical analysis of the AUDUSD price chart on 1-hour timeframe shows AUDUSD,H1 is testing the 200-period moving average MA(200) after rebound following retreat to four-week low two days ago. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 0.6525. 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 0.6504. 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
Job announcements decline in Australia slowed in March. Will the AUDUSD price rebounding persist?
Australia and New Zealand Banking Group reported the number of jobs advertised in major daily newspapers and websites covering the capital cities in Australia continued to decline albeit at a slower pace: the ANZ Job Advertisements declined 1% over month in March after 2.1% fall in February. Data indicated there was no change in the average number of Job Ads in Q1 compared to Q4 2023. Similarly, the average unemployment rate in the first two months of Q1 was unchanged from Q4’s 3.9%. And Job Ads is still 32.1% higher than pre-pandemic levels – the 2019 average. Slowing of job advertisements decline indicate stabilization of demand for labor which is bullish for Australian dollar and hence the AUDUSD currency pair.
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