XM does not provide services to residents of the United States of America.

Technical Analysis – AUDUSD spikes after soft US CPI print



AUDUSD had been battling with its 50-day simple moving average (SMA) after it rebounded from the 26-month low of 0.6680. However, in the previous session the pair experienced a huge jump, closing decisively above its 50-day SMA and coming to a halt at the upper Bollinger band.

The short-term oscillators are reflecting the intensifying positive momentum. Specifically, the MACD histogram has jumped above zero and its red signal line, while the RSI is flatlining above its 50-neutral threshold.

Should buying pressures persist, the recent peak of 0.7110 could be the initial resistance barrier. Piercing through this region, the bulls could target the 200-day SMA, currently at 0.7150. Violating this zone, the spotlight might turn to the June high of 0.7282 before 0.7458 appears on the radar.

On the flipside, if the pair reverses downwards, the 0.6946 hurdle may act as the first line of defence. Should that floor collapse, the recent low of 0.6868 might come under examination. Failing to halt there, the price could descend towards the May low of 0.6828 or lower to challenge the 0.6760 region.

Overall, AUDUSD is showing an appetite for some recovery. Therefore, a break above 0.7282 is needed to alter its medium-term outlook to bullish.

Latest News

Technical Analysis – BTCUSD advances towards all-time highs


Technical Analysis – AUDUSD gets bearish vibes

A

Technical Analysis – WTI oil futures in fierce battle with 50.0% Fibo

O

Technical Analysis – GER 40 index marks highs after highs

G

G

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.