During the recent Asian trading sessions, the Australian Dollar experienced an uptick against the US Dollar, notably breaching the 0.6500 benchmark. This movement signals a moment of strength for the Australian currency in the global forex market.
As the day progresses, market participants are keenly awaiting the release of Australia’s Retail Sales data. This indicator is pivotal as it sheds light on consumer spending trends within the economy, offering clues about the economic health and potential for growth. Similarly, the financial community is on alert for the Initial Jobless Claims figures from the United States, set to be unveiled later in the day. These figures are crucial as they provide insight into the employment landscape, influencing market sentiment and currency valuations.
This scenario underscores not just the volatility and opportunities present within the forex market, but also the transformative impact of technology in enhancing investment strategies. For the everyday investor, this translates to a more accessible understanding of market dynamics and the potential for significant financial returns.
Technical analysis
Time Frame: 1 hour
AUDUSD Support & Resistance Table – 04/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 0.6625 | Daily R2 |
| Resistance 1 | 0.6610 | Daily R1 |
| Support 1 | 0.6570 | Daily S1 |
| Support 2 | 0.6555 | Daily S2 |
AUDUSD Indicator Table – 04/04/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Buy |
AUDUSD Indicator / Period Table – 04/04/2024
| Indicator / Period | Day – Buy | Week – Sell | Month – Sell |
| MACD( 12;26;9) | Buy | Sell | Sell |
| RSI (14) | Buy | Neutral | Sell |
| SMA 20 | Buy | Sell | Sell |
AUDUSD 04/04/2024 – Reference Price : 0.6588
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (3)Sell (0) |
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