Australian Dollar News
The Australian Dollar US Dollar (AUD/USD) exchange rate is trading +0.3% higher as the US session progresses. The pair remains with the familiar range of US$0.7150 – US$0.7250 which it has traded in across the past month.
A willingness shown by the US and China to commit to the Phase 1 trade deal has kept the China proxy, the Aussie Dollar buoyant.
The US Dollar trades on the back foot following mixed messages from economic data. Whilst new home sales soared to the highest level in 13 years, consumer confidence plunged to a new post pandemic low. Consumer spending could slow in the coming months.
AUD/US Dollar Exchange Rate
Today’s Forex Rates
AUD/US Dollar FX Polls
Overall, the bias in prices is: Upwards.
The projected upper bound is: 0.73.
The projected lower bound is: 0.71.
The projected closing price is: 0.72.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 32 white candles and 18 black candles for a net of 14 white candles.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 40.9835. This is not an overbought or oversold reading. The last signal was a sell 5 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 57.99. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 13 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 61. This is not a topping or bottoming area. The last signal was a sell 5 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 16 period(s) ago.
Rex Takasugi – TD Profile
FOREX AUD= closed unchanged at 0.719. Volume was 75% below average (consolidating) and Bollinger Bands were 64% narrower than normal.
Open High Low Close Volume 0.719 0.721 0.719 0.719 22,758
Technical Outlook Short Term: Neutral Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 0.72 0.71 0.67 Volatility: 8 9 15 Volume: 64,588 84,659 79,353
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
FOREX AUD= is currently 7.0% above its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods.
Our volume indicators reflect volume flowing into and out of AUD= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on AUD= and have had this outlook for the last 25 periods.