In today’s Asian trading session, the Australian Dollar dipped below the 0.6700 mark against the US Dollar. This movement occurs on a day marked by a lack of significant economic announcements from both Australia and the United States, leaving traders to navigate the market based on existing global economic cues and speculative sentiment.
Amid these quiet data days, some market participants have turned to advanced technological tools to enhance their trading strategies. Notably, traders utilizing artificial intelligence (AI) platforms have reported exceptional outcomes. By deploying AI to analyze and predict currency movements, these traders have achieved an impressive autopilot mode operation, culminating in more than 34% return on investment within the last 24 hours. Discover more about their approach and results.
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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