AUDUSD forecast bearish despite positive PPI data
Technical Analysis Summary AUD/USD: Sell
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Sell | |
| Donchian Channel | Sell | |
| MA(200) | Buy | |
| Fractals | Neutral | |
| Parabolic SAR | Sell |
Chart Analysis
The AUDUSD technical analysis of the price chart on 1-hour timeframe shows AUDUSD,H1 is retracing down toward the 200-period moving average MA(200) which is leveling off. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 0.7363. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 0.7404. After placing the order, the stop loss is to be moved to the next fractal high 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 cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of -
Australia’s producer prices index rose in second quarter. Will the AUDUSD decline continue?
Australia’s producer prices index rose in second quarter: Australian Bureau of Statistics reported Australia’s PPI rose 0.7% over quarter in Q2 after 0.4% growth in Q1 when 0.5% increase was expected. This is bullish for AUDUSD. However the current setup is bearish for the pair