How To Make Money Today: AUD/USD Daily Market Analysis and Forex Trading Signals 5 April 2022
To assist you to make a good day-trading selection, we’ll cover the newest forex market analysis. Make more money today with our market analysis. You must know how to trade first and have at least a simple understanding of chart patterns. Aside from that, we’ll cover some basic tips and methods that can aid anybody curious in day trading strategies. So let’s start by looking at some charts from today…
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AUD/USD:
On the H4 timeframe, prices are approaching a pivot. We see the potential for a dip from our 1st resistance at 0.75370 which is an area of Fibonacci confluences towards our 1st support at 0.74264 in line with 38.2% Fibonacci retracement. Our bearish bias is supported by RSI being on bearish momentum.
Areas of consideration
- H4 1st resistance at 0.75370
- H4 1st support at 0.74264
AUD/USD shoots towards 0.7600 as RBA keeps interest rate at 0.1%
- On the back of the RBA’s maintained monetary policy, the AUD/USD has risen to about 0.7580.
- In the face of a weak labour market, the RBA was anticipated to maintain the status quo.
- In recent months, the Australian dollar has been a strong performer due to rising commodity prices.
The AUD/USD pair has risen sharply at 0.7580 after the Reserve Bank of Australia (RBA) maintained its 0.1 percent interest rate. The asset was stabilising in a tight range of 0.7536-0.7548 in the early Asian session.
The RBA was widely anticipated to maintain its current monetary policy while adopting a less dovish approach, given that global inflation is rising faster than the pace of GDP, owing to the Ukraine situation. To limit soaring inflation, RBA Chair Philip Lowe said in March’s monetary policy that the market should expect a maximum of a 10 basis point (bps) interest rate rise this year. The RBA policymakers do not believe there is enough pricing pressure to force the central bank to raise interest rates. Furthermore, the lacklustre labour market precludes any necessity to raise borrowing rates very soon.
In recent trading sessions, the antipodean has performed well versus the greenback, owing to increased commodity prices. Australia, as a significant supplier of food, iron ore, energy, and other base metals, has benefited from increased inflows as commodity prices have risen.
Meanwhile, the US dollar index (DXY) has above the highlighted resistance level of 99.00, owing to the lingering effects of the positive labour market in the United States. Investors have brushed over weaker US nonfarm payrolls, despite the fact that the unemployment rate has fallen. The unemployment rate in the United States fell to 3.6 percent, lower than the market estimate of 3.7 percent and the previous number of 3.8 percent, raising the likelihood of a Federal Reserve interest rate rise of 50 basis points (bps) (Fed).
AUD/USD
| OVERVIEW | |
|---|---|
| Today last price | 0.7538 |
| Today Daily Change | -0.0005 |
| Today Daily Change % | -0.07 |
| Today daily open | 0.7543 |
| TRENDS | |
|---|---|
| Daily SMA20 | 0.7406 |
| Daily SMA50 | 0.7269 |
| Daily SMA100 | 0.7228 |
| Daily SMA200 | 0.7298 |
| LEVELS | |
|---|---|
| Previous Daily High | 0.7557 |
| Previous Daily Low | 0.7482 |
| Previous Weekly High | 0.7541 |
| Previous Weekly Low | 0.7455 |
| Previous Monthly High | 0.7541 |
| Previous Monthly Low | 0.7165 |
| Daily Fibonacci 38.2% | 0.7528 |
| Daily Fibonacci 61.8% | 0.7511 |
| Daily Pivot Point S1 | 0.7498 |
| Daily Pivot Point S2 | 0.7452 |
| Daily Pivot Point S3 | 0.7423 |
| Daily Pivot Point R1 | 0.7573 |
| Daily Pivot Point R2 | 0.7602 |
| Daily Pivot Point R3 | 0.7648 |
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