Australian Dollar: USD/AUD (AUD=X) expected to open lower

Australian Dollar: USD/AUD (AUD=X) expected to open lower

Australian Dollar: USD/AUD (AUD=X) expected to open lower

The week ahead is all about prices

Another big week ahead, U.S earnings, 2nd quarter GDP numbers, Trade wars and ECB monetary policy all in focus.

For the Aussie Dollar, following last week’s impressive employment numbers, focus shifts to 2nd quarter inflation figures, with consumer inflation figures due out on Wednesday and producer price index figures due out on Friday. Any uptick in the quarter-on-quarter consumer price figures and expect the Aussie Dollar to find strong support, though there’s going to need to be quite a move for the RBA to shift on its policy stance in the coming months, which is not anticipated. The AUD/USD ended the week down 0.12% to $0.7415.

Overall, the bias in prices is: Downwards.

The projected upper bound is: 0.75.

The projected lower bound is: 0.73.

The projected closing price is: 0.74.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 black candles.

Momentum Indicators

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.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 65.9520. This is not an overbought or oversold reading. The last signal was a sell 8 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 49.29. 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 53 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 36. This is not a topping or bottoming area. The last signal was a sell 8 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 13 period(s) ago.

Rex Takasugi – TD Profile

FOREX AUD= closed down -0.000 at 0.742. Volume was 98% below average (consolidating) and Bollinger Bands were 45% narrower than normal.

Open High Low Close Volume___
0.740 0.743 0.740 0.742 1,701

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 0.74 0.75 0.77
Volatility: 11 10 9
Volume: 96,104 102,285 91,734

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.

Summary

FOREX AUD= is currently 3.3% below its 200-period moving average and is in an downward trend. Volatility is high 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 24 periods.

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