fbAUDUSD Forecast | Rising Australian building approvals bullish for AUDUSD | IFCM Hong Kong

Technical Analysis AUDUSD : 2020-01-08

Rising Australian building approvals bullish for AUDUSD

Building approvals in Australia rose 11.8% over month in November, 2019. Will the AUDUSD rise?

AUDUSD rising toward MA(200)

The price chart on 1-hour timeframe shows AUDUSD: H1 is in uptrend. The price is rising toward the 200-period moving average MA(200) which is declining. The Stochastic oscillator is about to reach the oversold zone.

Technical Analysis Summary

OrderBuy
Buy stop Above 0.6886
Stop lossBelow 0.6866

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