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AUD/USD Technical Analysis

The technical analysis of the AUDUSD price chart on a 4-hour timeframe shows AUDUSD, H4 is retracing after rebounding above the 200-period moving average MA(200) which is leveling off. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 0.6820. 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 0.6742. After placing the order, the stop loss is to be moved to the next fractal low indicator, 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 canceling the order: the market has undergone internal changes which were not taken into account.
 

Fundamental Analysis of Forex - AUD/USD

Australia’s latest inflation data were weaker than expected. Will the AUDUSD price rebounding reverse?

Australian Bureau of Statistics' latest inflation data was weaker than expected. June consumer price index growth dropped to 5.4% over year in line with expectations, though the previous month's inflation was revised down to 5.5%. At the same time monthly increase in consumer prices also slowed – to 08% from 1.4% in May. Slowing Australian inflation is bearish for the Australian dollar hence for the AUDUSD pair. However, the current setup is bullish for AUDUSD.

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