Current trend

The AUD/USD pair strengthened due to the start of US-China trade war and weak June US employment market data.

Last Friday, negative statistics on the US labor market were published. The rise in the unemployment rate by 0.2% in June and the sudden slowdown in the growth of the average hourly wage raise doubts about Fed's "hawkish" plans. However, the market continues to ignore negative macroeconomic statistics from Australia, focusing on the United States.

Today, there is a lack of significant macroeconomic releases in both counties, so market participants will focus on the trade conflict between China, the EU and the United States.

Support and resistance

On the 4-hour chart, the upward trend is in the correction. The instrument is traded within a narrow price range of 0.7454–0.7485. Bollinger bands reversed upwards, and the price range expanded, reflecting the maintenance of the upward dynamics. MACD is in the positive zone, holding a strong buy signal. Stochastic does not give clear signals for opening positions.

Support levels: 0.7309, 0.7351, 0.7399, 0.7441.

Resistance levels: 0.7500, 0.7547, 0.7602, 0.7653.

Trading tips

Long positions can be opened from the current level with the targets at 0.7500, 0.7525 and stop loss 0.7420. Implementation period: 1–2 days.

Short positions can be opened below the level of 0.7420 with the target at 0.7345 and stop loss 0.7450. Implementation period: 1–3 days.

Australian vs US Dollar

BuySellSpread
0.722090.7218623

Scenario

TimeframeDay's Range
RecommendationsBUY
Entry Point0.7457
Take Profit0.7500, 0.7525
Stop Loss0.7420
Support levels0.7309, 0.7351, 0.7399, 0.7441, 0.7500, 0.7547, 0.7602, 0.7653.

Alternative scenario

RecommendationsSELL STOP
Entry Point0.7415
Take Profit0.7345
Stop Loss0.7450
Support levels0.7309, 0.7351, 0.7399, 0.7441, 0.7500, 0.7547, 0.7602, 0.7653.
AUD/USD: general analysis

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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