AUDUSD forecast bearish despite rising Australian retail sales
Technical Analysis Summary AUD/USD: Sell
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Buy | |
| Donchian Channel | Neutral | |
| MA(200) | Sell | |
| Fractals | Sell | |
| Parabolic SAR | Buy | |
| MA(50) | Sell |
Chart Analysis
The AUDUSD technical analysis of the price chart on 1-hour timeframe shows AUDUSD: H1 is retreating under the 200-period moving average MA(200) which continues to decline. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 0.7112. 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 0.7156. 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 -
Australia’s retail sales rose more than expected in October. Will the AUDUSD retreat reverse?
Australia’s retail sales rose more than expected in October: the Australian Bureau of Statistics reported Australia’s retail sales surged by 4.9% over month in October after 1.3% increase in previous month, when a 2.2% increase was forecast. This is bullish for AUDUSD. However AUDUSD current setup is bearish.