In today’s early trading hours in Asia, the Australian Dollar experienced a downturn, trading below the 0.6600 mark against the US Dollar. Today marks a quiet day on the economic front, with neither Australia nor the United States scheduled to release any major economic data.
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Technical analysis
Time Frame: 1 hour
AUDUSD Support & Resistance Table – 08/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 0.6613 | Daily R2 |
| Resistance 1 | 0.6598 | Daily R1 |
| Support 1 | 0.6558 | Daily S1 |
| Support 2 | 0.6543 | Daily S2 |
AUDUSD Indicator Table – 08/05/2024
| Indicator | Signal |
| SMA 20 | Sell |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Sell |
AUDUSD Indicator / Period Table – 08/05/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Sell |
| MACD( 12;26;9) | Buy | Sell | Sell |
| RSI (14) | Buy | Neutral | Neutral |
| SMA 20 | Sell | Buy | Sell |
AUDUSD 08/05/2024 – Reference Price : 0.6577
| BUY | Simple Moving AverageBuy (2)Sell (1)Technical Indicators – OscillatorsBuy (2)Sell (1) |
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