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.

Investors leveraging advanced Artificial Intelligence (AI) tools are finding themselves at an advantage, navigating these dynamic market conditions more effectively. Remarkably, some investors utilizing AI technology have reported achieving a 34% Return on Investment in just the last 24 hours, showcasing the potent capabilities of AI in enhancing market prediction and strategy optimization.

Technical analysis

Australian Dollar - Dollar Analysis Technical analysis 24/04/2024

Time Frame: 1 hour

AUDUSD Support & Resistance Table – 24/04/2024

Support & ResistanceLevelExplanation
Resistance 20.6552Daily R2
Resistance 10.6538Daily R1
Support 10.6500Daily S1
Support 20.6486Daily S2

AUDUSD Indicator Table – 24/04/2024

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

AUDUSD Indicator / Period Table – 24/04/2024

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

AUDUSD 24/04/2024 – Reference Price : 0.6518

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

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