AUD – Australian dollar trades higher as US-China tariff tensions show signs of easing

Regarding the trend of Australian dollar against U.S. dollar, the Australian dollar has been blocked near the 0.64 level many times this year. Although it can cross the 0.64 this week, it has been constrained by the 0.6440 level for many days, and the 200-day moving average is at 0.6465 not far away. The technical chart shows that both the RSI and the stochastic index are rising, and it is expected that the Australian dollar can continue to stabilize. After the recent sideways consolidation, if it can cross the 200-day moving average again, it is expected that the Australian dollar will start a new upward trend, with the extended target looking at the 250-day moving average of 0.6510 and 0.66 levels, and then refer to the high of 0.6687 in November last year. As for the current closest support, it is estimated at 0.6340 and the 100-day moving average of 0.6280, and the next level is expected to be 0.6130 and 0.60.

Forecast range:
Resistance 0.6440* – 0.6510 – 0.6600 – 0.6687
Support 0.6340 – 0.6280 – 0.6130 – 0.6000

Focus:
Wednesday: Australia’s first quarter and March CPI (09:30)

Thursday: Australia's first quarter import and export prices (09:30)

Friday: Australia's first quarter PPI, March and first quarter retail sales (09:30)

Any questions? contact our professional analysis team
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