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

Australian Dollar - Dollar Analysis Technical analysis 04/04/2024

Time Frame: 1 hour

AUDUSD Support & Resistance Table – 04/04/2024

Support & ResistanceLevelExplanation
Resistance 20.6625Daily R2
Resistance 10.6610Daily R1
Support 10.6570Daily S1
Support 20.6555Daily S2

AUDUSD Indicator Table – 04/04/2024

SMA 20Buy
SMA 50Buy
SMA 100Buy
MACD( 12;26;9)Buy
RSI (14)Buy
Stochastic ( 9;6;3)Buy

AUDUSD Indicator / Period Table – 04/04/2024

Indicator / PeriodDay – BuyWeek – SellMonth – Sell
MACD( 12;26;9)BuySellSell
RSI (14)BuyNeutralSell
SMA 20BuySellSell

AUDUSD 04/04/2024 – Reference Price : 0.6588

BUYSimple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (3)Sell (0)

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