Higher building approvals bullish for AUDUSD
Building approvals in Australia rose 7.6% on month in September when 0.1% increase was expected. Will the AUDUSD rise?
The price chart on 1-hour timeframe shows AUDUSD: H1 is trading sideways. The price is falling toward the 200-period moving average MA(200) which is rising. And the Stochastic oscillator is below 50 level and has not reached the overbought zone. There is no trend yet formed, traders have to decide when it would be a best time to enter the market.