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AUD/USD Is Trading In Wide Flat

Published 08/14/2015, 06:37 AM
Updated 07/09/2023, 06:31 AM

4-Hour AUD/USD

On Thursday, the AUD remained on about the same level against the USD, despite quite strong data on Retail Sales from the US. The reason of these dynamics was strong macroeconomic statistics from Australia, where the Wage Price Index in the second quarter grew by 0.6%, or 2.3% yearly. The Westpac Consumer Confidence Index for August also grew by 7.8% and reached 99.5 points, which was a lot higher than forecasts.

Daily AUD/USD

Bollinger Bands® on the daily chart remains in flat, but is signaling a possibility of an upward reverse. MACD is growing and giving a weak buy signal. Stochastic after a short fall turned up again and is approaching the overbought zone.

The indicators recommend waiting for a clearer signal.

  • Support levels: 0.7322 (13 August low), 0.7300, 0.7259, 0.7234 (31 July low), 0.7200.
  • Resistance levels: 0.7366 (local high), 0.7400, 0.7438 (11 August high), 0.7448 (21 July high), 0.7500 (7 July high).

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