Australian Dollar: USD/AUD (AUD=X) falls broadly after seventh consecutive inflation disappointment
The Australian dollar fell against the US dollar after the country’s statistics office released the Consumer Price Index (CPI) data for the second quarter. The data showed that the CPI rose by 0.4% in the quarter. This was lower than the expected 0.5%. It was however the same as the quarterly CPI numbers for the first quarter.
On an annual basis, the CPI rose by 2.1%, which was better than the first quarter’s CPI of 1.9%. Traders were however expecting the CPI to rise by 2.2%.
Overall, the bias in prices is: Sideways.
The projected upper bound is: 0.76.
The projected lower bound is: 0.73.
The projected closing price is: 0.75.
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 24 white candles and 26 black candles for a net of 2 black candles.
A doji star occurred (where a doji gaps above or below the previous candle). This often signals a reversal with confirmation occurring on the next bar.
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 90.2614. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 11 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 53.43. 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 56 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 115.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 11 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 16 period(s) ago.
Rex Takasugi – TD Profile
FOREX AUD= closed up 0.000 at 0.746. Volume was 87% below average (consolidating) and Bollinger Bands were 45% narrower than normal.
Open High Low Close Volume___
0.745 0.746 0.744 0.746 12,914
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 0.74 0.75 0.77
Volatility: 9 10 9
Volume: 97,637 102,449 92,323
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 2.8% below its 200-period moving average and is in an upward 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 bullish on AUD= and have had this outlook for the last 0 periods. Our momentum oscillator has set a new 14-period high while the security price has not. This is a bullish divergence.
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