In the most recent session within the Asian markets, the Australian Dollar has seen a decline relative to the US Dollar, with the exchange rate dipping below the 0.6600 benchmark. This movement indicates a shift in the currency landscape, underscoring the fluid nature of forex markets and investor sentiment.
Today’s economic calendar for Australia remains clear, with no major announcements expected that might directly impact the Australian Dollar’s performance. On the other hand, the financial world turns its gaze towards the United States, eagerly awaiting the release of critical labor market data, including the Nonfarm Payrolls and Unemployment Rate figures. These indicators are pivotal, as they not only provide a snapshot of the employment health in the U.S. but also have the potential to sway monetary policy decisions and, consequently, currency valuations globally.
Technical analysis
Time Frame: 1 hour
AUDUSD Support & Resistance Table – 05/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 0.6607 | Daily R2 |
| Resistance 1 | 0.6593 | Daily R1 |
| Support 1 | 0.6553 | Daily S1 |
| Support 2 | 0.6539 | Daily S2 |
AUDUSD Indicator Table – 05/04/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Sell |
AUDUSD Indicator / Period Table – 05/04/2024
| 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 05/04/2024 – Reference Price : 0.6574
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (2)Sell (1) |
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