Australian Dollar: USD/AUD (AUD=X) continues to regain ground
AUD/USD has turned higher once more, despite the initial respect of the 76.4% Fibonacci resistance. The long-term downtrend remains intact unless we see a break through the $0.7315 swing high.
However, with the price having broken through both trendline and now Fibonacci resistance, we are increasingly seeing a wider turnaround as a possibility. With that in mind, we are in a position where there are both bullish and bearish factors in play. However, a break through $0.7315 would bring about a clearer and bullish picture for the pair.
Overall, the bias in prices is: Sideways.
The projected upper bound is: 0.74.
The projected lower bound is: 0.72.
The projected closing price is: 0.73.
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 27 white candles and 23 black candles for a net of 4 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 87.5797. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 1 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 64.92. 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 130 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 149.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 21 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 buy 17 period(s) ago.
Rex Takasugi – TD Profile
FOREX AUD= closed up 0.004 at 0.728. Volume was 22% above average (neutral) and Bollinger Bands were 14% wider than normal.
Open High Low Close Volume___
0.725 0.730 0.721 0.728 131,297
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 0.72 0.72 0.75
Volatility: 12 11 11
Volume: 121,151 110,371 105,089
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 2.6% below its 200-period moving average and is in an upward trend. Volatility is 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 1 periods.