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AUD/USD Technical Analysis - AUD/USD Trading: 2023-11-10
AUD/USD Technical Analysis Summary
Below 0.6351
Sell Stop
Above 0.6427
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Sell |
| Fractals | Sell |
| Parabolic SAR | Sell |
AUD/USD Chart Analysis
AUD/USD Technical Analysis
The technical analysis of the AUDUSD price chart on 4-hour timeframe shows AUDUSD,H4 has breached below the 200-period moving average MA(200) which is tilted down itself. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 0.6351. 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 0.6427. 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 Forex - AUD/USD
Job announcements in Australia declined more in October. Will the AUDUSD price retreating persist?
Australia and New Zealand Banking Group reported the number of jobs advertised in the major daily newspapers and websites covering the capital cities in Australia continued to decline: the ANZ Job Advertisements fell 3% over month in October after 0.5% decline in September. Declining job advertisements indicate declining demand for labor which is bearish for Australian dollar and hence the AUDUSD currency pair. The next day the Reserve Bank of Australia (RBA) hiked interest rates 25 basis points to 4.35%. Initial gains in AUDUS after the hike announcement reversed however despite a hawkish central bank statement: RBA cited the slow decline in inflation towards its target range, and kept the door open to the possibility of further hikes – “depending upon the data and the evolving assessment of risks." The current setup is bearish for the AUDUSD.
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