AUDUSD forecast bearish after weak Australian retail report
Technical Analysis Summary AUD/USD: Sell
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Buy | |
| Donchian Channel | Sell | |
| MA(200) | Sell | |
| Fractals | Sell | |
| Parabolic SAR | Sell |
Chart Analysis
The AUDUSD technical analysis of the price chart on 1-hour timeframe shows AUDUSD: H1 is falling below the 200-period moving average MA(200) which is falling still. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 0.7289. 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 0.7320. After placing the order, the stop loss is to be moved to the next fractal high, 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 -
Australian retail turnover fell more than expected in June 2021. Will the AUDUSD continue retreating?
Australian retail turnover fell more than expected in June 2021. The Australian Bureau of Statistics report showed Australian retail turnover fell 1.8% over month in June after 0.4% growth in May, when an 0.7% decrease was expected. This is bearish for AUDUSD.