In today’s Asian trading session, the Australian Dollar experienced a modest increase in value against the US Dollar, with the exchange rate climbing above the 0.6500 benchmark. This subtle uptick highlights the ongoing fluctuations in the currency exchange market, despite a day marked by an absence of significant economic data from both Australia and the United States.
The lack of major economic announcements today shifts the focus towards broader market sentiments and future economic indicators that may influence the direction of the AUD/USD currency pair. Investors and traders are closely monitoring global economic trends and geopolitical events that could impact currency valuations in the coming days.
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This analysis not only provides insight into the current state of the AUD/USD pair but also underscores the significant role that advanced technologies, such as AI, play in refining investment strategies and enhancing market predictions, even on days devoid of immediate economic data.
Technical analysis
Time Frame: 1 hour
AUDUSD Support & Resistance Table – 08/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 0.6616 | Daily R2 |
| Resistance 1 | 0.6600 | Daily R1 |
| Support 1 | 0.6558 | Daily S1 |
| Support 2 | 0.6542 | Daily S2 |
AUDUSD Indicator Table – 08/04/2024
| 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 – 08/04/2024
| Indicator / Period | Day – Buy | Week – Sell | Month – Sell |
| MACD( 12;26;9) | Buy | Sell | Sell |
| RSI (14) | Buy | Sell | Sell |
| SMA 20 | Buy | Sell | Sell |
AUDUSD 08/04/2024 – Reference Price : 0.6577
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (2)Sell (1) |
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