In today’s Asian trading session, the Australian Dollar experienced a decline against the US Dollar, currently positioned below the 0.6700 threshold. This movement reflects a quieter day on the economic front for Australia, with no significant data releases scheduled. Conversely, market participants are keenly awaiting the release of the Initial Jobless Claims data from the United States, which is anticipated to provide fresh insights into the labor market’s health and could potentially influence monetary policy decisions.

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Technical analysis

Australian Dollar - Dollar Analysis Technical analysis 16/05/2024

Time Frame: 1 hour

AUDUSD Support & Resistance Table – 16/05/2024

Support & ResistanceLevelExplanation
Resistance 20.6716Daily R2
Resistance 10.6700Daily R1
Support 10.6660Daily S1
Support 20.6644Daily S2

AUDUSD Indicator Table – 16/05/2024

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

AUDUSD Indicator / Period Table – 16/05/2024

Indicator / PeriodDay – BuyWeek – BuyMonth – Sell
MACD( 12;26;9)BuyBuySell
RSI (14)SellBuyNeutral
SMA 20BuyBuySell

AUDUSD 16/05/2024 – Reference Price : 0.6682

BUYSimple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (1)Sell (2)

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