Technical Analysis AUDUSD : 2021-04-28

IFC Markets

Master Trader
Oct 31, 2012
London (Great Britain)

Recommendation for AUD/USD:Buy​

Buy Stop : Above 0.7752

Stop Loss : Below 0.7731

RSI : Neutral

MACD : Buy

Donchian Channel : Neutral

MA(200) : Sell

Fractals : Buy

Parabolic SAR : Buy

Chart Analysis​

IFC Markets Tech Analysis

The AUDUSD technical analysis of the price chart on 1-hour timeframe shows AUDUSD: H1 has risen to test the 200-period moving average MA(200) which has leveled off. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 0.7752. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 0.7731. After placing the order, the stop loss is to be moved to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account

Fundamental Analysis​

Australia’s inflation slowed in first quarter. Will the AUDUSD continue declining? Australia’s inflation slowed in first quarter: the Australian Bureau of Statistics reported consumer price index rose 0.6% over quarter in Q1 after 0.9% increase in previous three months, when a steady 0.9% increase was forecast. This is bearish for AUDUSD. However the current setup is bullish for AUDUSD.