In today’s Asian trading session, the Australian Dollar experienced a noticeable increase, surpassing the 0.6500 threshold against the US Dollar. This movement in the forex market comes on a day devoid of major economic announcements from both Australia and the United States, suggesting that other factors may be influencing the currency dynamics.
The Australian Dollar’s strength could be attributed to a variety of influences including shifts in investor sentiment, adjustments in commodity prices, or speculative trading patterns. With no immediate economic reports to guide the markets, traders might be positioning based on broader financial trends or upcoming economic forecasts.
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Technical analysis
Time Frame: 1 hour
AUDUSD Support & Resistance Table – 29/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 0.6601 | Daily R2 |
| Resistance 1 | 0.6587 | Daily R1 |
| Support 1 | 0.6553 | Daily S1 |
| Support 2 | 0.6539 | Daily S2 |
AUDUSD Indicator Table – 29/04/2024
| 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 – 29/04/2024
| Indicator / Period | Day – Buy | Week – Sell | Month – Sell |
| MACD( 12;26;9) | Buy | Sell | Sell |
| RSI (14) | Buy | Neutral | Sell |
| SMA 20 | Buy | Buy | Sell |
AUDUSD 29/04/2024 – Reference Price : 0.6566
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (3)Sell (0) |
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