The Australian dollar extends rally into fourth straight day, advancing 2.1% since the base of thick daily cloud contained last week’s steep fall. Fresh risk mode and rally in China’s yuan additionally boosted Aussie, as bulls broke above pivotal Fibo barrier at 0.7161 (38.2% of 0.7413/0.7005) and probed above daily cloud top (0.7186) today.
Bulls need to clear daily cloud top and nearby 20DMA (0.7208) to generate signal for continuation, but daily studies warn of stall as momentum turns sideways (still in negative territory) and stochastic entered overbought territory. Near-term action would remain biased higher above broken Fibo barrier at 0.7161, while return and close below 10DMA (0.7136) would sideline bulls.
AUD/US Dollar Exchange Rate
Today’s Forex Rates
AUD/USD FX Polls
Overall, the bias in prices is: Upwards.
The projected upper bound is: 0.73.
The projected lower bound is: 0.70.
The projected closing price is: 0.72.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 white candles.
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 84.7486. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 3 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 47.20. 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 buy 4 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 -7. This is not a topping or bottoming area. The last signal was a buy 3 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 19 period(s) ago.
Rex Takasugi – TD Profile
FOREX AUD= closed down -0.002 at 0.716. Volume was 81% below average (consolidating) and Bollinger Bands were 14% wider than normal.
Open High Low Close Volume 0.718 0.719 0.716 0.716 16,482
Technical Outlook Short Term: Neutral Intermediate Term: Bearish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 0.71 0.72 0.68 Volatility: 13 11 15 Volume: 77,441 78,659 84,404
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 5.7% above its 200-period moving average and is in an downward trend. Volatility is relatively normal 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 bearish on AUD= and have had this outlook for the last 8 periods.