AUD/USD Technical Analysis | AUD/USD Trading: 2023-09-26 | IFCM India
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AUD/USD Technical Analysis - AUD/USD Trading: 2023-09-26

AUD/USD Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Below 0.6403

Sell Stop

Above 0.6440

Stop Loss

Ara Zohrabian
Senior Analytical Expert
Articles 2427
RSI Neutral
Donchian Channel Neutral
MA(200) Sell
Fractals Neutral
Parabolic SAR Buy

AUD/USD Chart Analysis

AUD/USD Chart Analysis

AUD/USD Technical Analysis

The technical analysis of the AUDUSD price chart on 4-hour timeframe shows AUDUSD,H4 is retracing down under the 200-period moving average MA(200) after returning below it. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 0.6403. 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 0.6440. After placing the order, the stop loss is to be moved to the next fractal high, following Parabolic indicator 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 private sector activity resumed expanding in September. Will the AUDUSD price rebound continue?

Australia’s private sector business activity resumed expanding in September. The Judo Bank Flash Australia Composite PMI index (PMI) rose to 50.2 in September – 4-month high, from 48 in August. Readings above 50.0 indicate industry expansion, below indicate contraction. The return to growth happened due to a renewed expansion in the service sector: flash Australia Services PMI rose to 50.5 from 47.8, while Manufacturing PMI fell to 48.2 in September, from 49.6 in August. Services sector activity expanded as both new orders and employment levels rose. Expanding Australian private sector business activity is bullish for AUDUSD. However the current setup is bearish for the pair.

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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

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