In today’s Asian trading session, the Australian Dollar has seen a downturn against the US Dollar, with its value dropping below the 0.6700 mark. This movement follows the Reserve Bank of Australia’s decision to maintain the interest rate at 4.35%, a decision that was highly anticipated by market participants. Meanwhile, the US economic calendar remains clear for the day, offering no new data that might influence market movements. This has given traders the opportunity to process the steady rate decision from Australia without the distraction of U.S. economic updates. Notably, individuals utilizing sophisticated AI technology were able to predict these market dynamics effortlessly, achieving an impressive 34% return on investment in just 24 hours by capitalizing on automated market forecasts. Discover more about this AI-powered trading advantage.
Technical analysis
Time Frame: 1 hour
AUDUSD Support & Resistance Table – 07/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 0.6651 | Daily R2 |
| Resistance 1 | 0.6631 | Daily R1 |
| Support 1 | 0.6575 | Daily S1 |
| Support 2 | 0.6555 | Daily S2 |
AUDUSD Indicator Table – 07/05/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Sell |
| Stochastic ( 9;6;3) | Sell |
AUDUSD Indicator / Period Table – 07/05/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Sell |
| MACD( 12;26;9) | Buy | Sell | Sell |
| RSI (14) | Sell | Neutral | Neutral |
| SMA 20 | Buy | Buy | Sell |
AUDUSD 07/05/2024 – Reference Price : 0.6594
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (1)Sell (2) |
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