In today’s Asian trading session, the Australian Dollar experienced a downturn against the US Dollar, consistently trading under the 0.6700 threshold. This movement occurs on a day characterized by a lack of major economic announcements from both Australia and the United States, leaving traders to base their strategies on broader market sentiments and technical analysis rather than fresh economic data.
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Technical analysis
Time Frame: 1 hour
AUDUSD Support & Resistance Table – 17/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 0.6706 | Daily R2 |
| Resistance 1 | 0.6691 | Daily R1 |
| Support 1 | 0.6649 | Daily S1 |
| Support 2 | 0.6634 | Daily S2 |
AUDUSD Indicator Table – 17/05/2024
| 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 – 17/05/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Sell |
| MACD( 12;26;9) | Buy | Buy | Sell |
| RSI (14) | Buy | Buy | Neutral |
| SMA 20 | Buy | Buy | Sell |
AUDUSD 17/05/2024 – Reference Price : 0.6670
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (3)Sell (0) |
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