Australian Dollar: AUD/USD (AUD=X) HEFFX Forecast and Charts
Australian Dollar Outlook
The Australian Dollar US Dollar (AUD/USD) exchange rate traded lower on Tuesday.
The risk sensitive Australian Dollar was out of favour and the safe haven US Dollar found support from Trump’s latest comments on China.
President Trump said he wanted to “decouple” from China, ending economic ties with the world’s second largest economy. His comments threw into doubt the Phase 1 trade war, with investors questioning whether another trade war could be on the cards if Trump wins the election.
Australian domestic data was disappointing, with payrolls declining -0.4%, and Victoria seeing a 2% decline.
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 5 white candles and 5 black candles. During the past 50 bars, there have been 31 white candles and 19 black candles for a net of 12 white candles.
A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).
An on-neck line occurred. This is a bearish pattern where prices should move lower when the white candlestick’s (i.e., the most recent) low is penetrated.
A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
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 17.0875. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 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 49.95. 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 5 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 -63. 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 2 period(s) ago.
Rex Takasugi – TD Profile
FOREX AUD= closed up 0.000 at 0.722. Volume was 76% below average (consolidating) and Bollinger Bands were 10% narrower than normal.
Open High Low Close Volume 0.721 0.722 0.719 0.722 21,277
Technical Outlook Short Term: Oversold Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 0.73 0.71 0.68 Volatility: 12 10 15 Volume: 76,107 81,315 81,195
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 6.9% above its 200-period moving average and is in an upward 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 bullish on AUD= and have had this outlook for the last 35 periods.