During today’s Asian trading session, the Australian Dollar appreciated against the US Dollar, surpassing the 0.6500 threshold. This upward movement comes in the wake of Australia’s latest Consumer Price Index (CPI) figures, which exceeded expectations, registering at 3.6% compared to the forecasted 3.4%.
The unexpected rise in inflation suggests increased economic activity in Australia, potentially prompting tighter monetary policy in the future. Such indicators are crucial as they can significantly influence currency valuation and investor strategies in forex markets.
Meanwhile, the focus in the United States shifts towards the impending release of Durable Goods Orders data. This key economic indicator will provide further insights into the health of the US manufacturing sector and could have a substantial impact on market movements.
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Technical analysis
Time Frame: 1 hour
AUDUSD Support & Resistance Table – 24/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 0.6552 | Daily R2 |
| Resistance 1 | 0.6538 | Daily R1 |
| Support 1 | 0.6500 | Daily S1 |
| Support 2 | 0.6486 | Daily S2 |
AUDUSD Indicator Table – 24/04/2024
| 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 – 24/04/2024
| 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 24/04/2024 – Reference Price : 0.6518
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (3)Sell (0) |
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