AUDUSD Technical Evaluation | Forexlive

USD

• The Fed left interest rates unchanged as
  anticipated on the final assembly whereas dropping the tightening bias within the
  assertion however including a slight pushback towards a March fee minimize.
• The US CPI beat
  expectations for the second consecutive month with the disinflationary development
  reversing.
• The US PPI beat
  expectations throughout the board by an enormous margin.
• The US Jobless Claims beat
  expectations with the info remaining regular.
• The most recent US PMIs
  elevated farther from the prior month with the Manufacturing PMI beating
  expectations and the Providers PMI lacking.
• The US Retail Sales missed
  expectations throughout the board by an enormous margin.
• The market now expects the primary fee minimize in June.

AUD

• The
  RBA left interest rates unchanged as anticipated with the central financial institution
  sustaining the standard tightening bias and knowledge dependent language.
• The
  current Monthly CPI report missed expectations throughout
  the board which was a welcome growth for the RBA.
• The
  newest labour market report missed expectations by an enormous
  margin.
• The
  wage price index shocked to the upside as wage
  progress in Australia stays sturdy.
• The
  newest Australian PMIs confirmed the Manufacturing PMI falling
  again into contraction whereas the Providers PMI jumped again into growth.
• The
  market expects the primary fee minimize in August.

AUDUSD Technical Evaluation –
Every day Timeframe

On the day by day chart, we are able to see that AUDUSD broke
above the important thing resistance stage
the place we had additionally the pink 21 moving average for confluence and
prolonged the rally to new highs. The patrons are focusing on the subsequent resistance
at 0.6623 however the momentum appears to be waning a bit. The sellers, on the opposite
hand, will doubtless await the worth to succeed in the 0.6620 stage earlier than piling in
for brand spanking new shorts or search for some key breakouts on the decrease timeframes.

AUDUSD Technical
Evaluation – 4 hour Timeframe

On the 4 hour chart, we are able to see that the worth has
been diverging with the
MACD not too long ago.
That is typically an indication of weakening momentum usually adopted by pullbacks or
reversals. On this case, we received pullbacks into the pink 21 shifting common the place
the patrons saved on stepping in to focus on the 0.6620 stage. The shifting common
and the black trendline will now
be key ranges for the sellers as they might want to break via them to achieve
extra conviction for a bearish development and goal new lows.

AUDUSD Technical Evaluation –
1 hour Timeframe

On the 1 hour chart, we are able to see that we
have a resistance zone across the 0.6580 stage which the patrons might want to
break to extend the bullish bets into the 0.6620 stage. There isn’t any vital
knowledge until subsequent Tuesday, so the market will doubtless be pushed by the technicals
till then.